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Proxy

RAJEEV (student) (134 Points)

02 September 2015

hi,

a foreign company in INDIA having 90% holding and 10% holding by non residents , so for AGM can they appoint proxies , give me clear sections regarding this ,

thanks in advance ,

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2 Replies

ACS Anjali Jain (SERVICE - CS) (472 Points)
Replied 03 September 2015

if a foreign is holding 90% shares of company in indian then the foreign company can appoint a representative who can attend the agm on behalf of the company

CS MOHIT SALUJA (PRACTICING CS Jalandhar 9914558709) (5155 Points)
Replied 06 September 2015

As per act presence of atleast 2 members in person, in case of private limited cmpany, is required. So, in this case, the foreign company can however authosie some person to be present in AGM but atleast one NRI need to be pesent in person, they can not appoint the proxy.However, the other NRIs can appoint their proxies.