Annual general meetings
This query is : Resolved
11 September 2013
Is it compulsory that the proposer (share holder) who attends the annual general Meeting, must sign on the proposal form for adoption of annual report/annual accounts in the annual general meeting, or it can be an oral proposal (without any signature / written request)
Please clarify under what section of the companies act such provision is stipulated.
CS PULAGAM RAJARAO
Please clarify under what section of the companies act such provision is stipulated.
CS PULAGAM RAJARAO
11 September 2013
reply requested
11 September 2013
Vote by show of hands:
Section 177 states that at every general meeting, a resolution put to the vote of the meeting, shall be decided on the basis of voting by show of hands at the first instance, unless a poll is demanded. In voting by show of hands proxies cannot vote unless the articles provide therefore.
One member one vote by show of hands:
In the case of voting by show of hands, every member has right to cast only one vote, irrespective of the number of shares holds. Therefore, the voting by show of hands is not a value based because it does not differentiate between the members having more or less shares in the company.
Proxies cannot vote by show of hands:
In the case of voting by show of hands, only members who are personally present can exercise the voting. The proxies do not have such rights unless the articles specifically provides for that.
Directors cannot participate at meetings unless they are having voting rights as a member of the company Directors present at general meetings cannot participate at the general meetings unless they are members themselves and having a right to vote. But with the permission of the chairman, they can answer queries raised by the members.
So it is not mandatory, you can give by show of hand.
Section 177 states that at every general meeting, a resolution put to the vote of the meeting, shall be decided on the basis of voting by show of hands at the first instance, unless a poll is demanded. In voting by show of hands proxies cannot vote unless the articles provide therefore.
One member one vote by show of hands:
In the case of voting by show of hands, every member has right to cast only one vote, irrespective of the number of shares holds. Therefore, the voting by show of hands is not a value based because it does not differentiate between the members having more or less shares in the company.
Proxies cannot vote by show of hands:
In the case of voting by show of hands, only members who are personally present can exercise the voting. The proxies do not have such rights unless the articles specifically provides for that.
Directors cannot participate at meetings unless they are having voting rights as a member of the company Directors present at general meetings cannot participate at the general meetings unless they are members themselves and having a right to vote. But with the permission of the chairman, they can answer queries raised by the members.
So it is not mandatory, you can give by show of hand.
11 September 2013
Definition of 'voting':
Voting denotes a method by which a person express his wish or opinion in an authorised formal way or a mechanism through which the wishes of persons are ascertained in relation to a particular matter. It reflects the mood of the meeting on a particular matter. If a motion gets support of the required members in a meeting, it becomes resolution.
Types of voting in a general meeting
Types of voting may be divided into three categories viz;—
1. Voting by show of hands
2. Voting on poll
3. Voting by postal ballot
Definition of 'voting':
Voting denotes a method by which a person express his wish or opinion in an authorised formal way or a mechanism through which the wishes of persons are ascertained in relation to a particular matter. It reflects the mood of the meeting on a particular matter. If a motion gets support of the required members in a meeting, it becomes resolution.
Types of voting in a general meeting
Types of voting may be divided into three categories viz;—
1. Voting by show of hands
2. Voting on poll
3. Voting by postal ballot
11 September 2013
The question here is that when a person / share holder proposes a subject for adoption - is it necessary that such proposal must be in writing signed by such member / share holder or it can be a oral proposal.
CS PULAGAM RAJARAO
CS PULAGAM RAJARAO
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