Appointment of representative in agm

This query is : Resolved

Supriya (Querist)
Follow

17 November 2012 Dear Sir,

The holding company is in Singapore having 99% shares and 1% share is held individualy by an employee of this holding company (1%).

Now the Indian Subsidary with Registered office in Delhi wants to hold the AGM in India.

Is the Individual shareholder required to travel to India - Delhi for the AGM or can appoint a represenative.If he is required to travel then what can be the alternative for avoiding his travel to India as it is difficult.

Please advise urgently..

Ajay Mishra

Ajay Mishra (Expert)
Follow

17 November 2012 Hi

He can appoint proxy to attend the meeting instead of himself.

Supriya

Supriya (Querist)
Follow

17 November 2012 Hi

Thanks, can you pls send me the relevant section from companies's act.

Regards,
Supriya

Supriya

Supriya (Querist)
Follow

17 November 2012 Also will it be valid quorum. This is a private limited company.

Ajay Mishra

Ajay Mishra (Expert)
Follow

17 November 2012 Hi

Who can appoint proxy for the general meeting?

Proxy can be appointed by the following persons to attend and vote at the general meetings instead of themselves:—
1. Members of a company having a share capital.
2. Members of a company not having a share capital, if Articles of a company provides so.
3. Representatives of body corporate appointed under section 187 of the Companies Act, 1956.
4. Representatives of the President and the Governors of the State appointed under section 187A.
5. Power of Attorney holder of a member may vote by proxy, if authorised by such power of attorney.

Ajay Mishra

Ajay Mishra (Expert)
Follow

17 November 2012 Who cannot appoint Proxy for a meeting?

The followings persons cannot appoint proxy to attend a general meeting of the company:—
1. A proxy cannot appoint a proxy. However, this general rule has certain exceptions as mentioned above.
2. A member of a company not having a share capital cannot appoint a proxy if the Articles does not provide otherwise.
3. Members of an independent private company unless the Articles provide otherwise. Section 176 does not apply to independent private company and consequently, this aspect will be regulated by the Articles of the concerned company.

Ajay Mishra

Ajay Mishra (Expert)
Follow

17 November 2012
Appointment of number of proxies by a member

Section 176(1)(b) state that unless the Articles provide otherwise, a member of a private company shall not be entitled to appoint more than one proxy to attend on the same occasion. However, a member of a public company can appoint more than one proxy to attend and vote at a meeting instead of himself.
The person who has been authorised by the creditor company to attend a meeting of debtor company, he need not hold proxy on behalf of the creditor company and he himself can nominate a representative to vote by proxy.

Ajay Mishra

Ajay Mishra (Expert)
Follow

17 November 2012
Only individual can be appointed as a proxy
Any person whether he is member or not can be appointed as a proxy. He must be individual capable of attending and voting, at the meeting. There is no restriction in law about who can be appointed as proxy. Even the existing or proposed chairman of the company, director, secretary or any employee can be appointed as proxy. Even minor is capable of to be appointed as proxy as such appointment does not incur or undertake any liability or burden.
An artificial or judicial person cannot be appointed as proxy.

Ajay Mishra

Ajay Mishra (Expert)
Follow

17 November 2012 Articles of Association of a company may provide for larger number of members personally present as quorum, rather than 5 or 2 members personally present in case of public and private company respectively but it cannot be less than the minimum number of quorum required for the meeting.
It has been held in Hartly Bird Ltd. (1955) Ch, 143 that the quorum should be present at the time when the meeting begins to transact its business but it need not be present throughout or at the time of taking the vote on any resolution. In this connection, regulation 49 in Table 'A' also provides that the quorum shall be present at the time when the meeting proceeds to do business.

However, a single member present cannot by himself constitute a quorum but a single member quorum is valid if such a direction has been issued by the CLB/Tribunal under section 167 or 186

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Anirudh Sharma

Ashif Cheenikkal

sandhya.v

Angadi & Co

S J MITRA

Subscribe Now

Appointment of representative in agm

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA