Basic query i n law

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pavankumar (Querist)
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12 November 2013
60% of the Members of a Co. submitted a requisition for holding an EGM to remove the MD. The BOD rejected the requisition on the grounds that reasons for removal were not mentioned/it did not accompany an explanatory statement.
In the above context:
How to judge whether 60% of the members represents as percentage of total voting power or Paid up capital.?

I will be very much thankful to you.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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13 November 2013 Did the requisition stated the reason ? If not, such a requisition can be rejected.

You need not worry about 60%. Even 10% is sufficient.

Please follow this link for the process:

http://www.ourprofessionalteam.com/index.php?option=com_oscontent&view=article&id=2745&catid=100&Itemid=48

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