Postal ballot - section 192a

Save Share

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

16 April 2013 Sir,

Can an unlisted public company pass a resolution through postal ballot.

As per Section 192A, procedure has been defined for listed companies. Does that imply that an unlisted public company cannot pass a resolution through it?

pls advice

Ankur Garg

Ankur Garg (Expert)
Follow

16 April 2013 An unlisted company can definitely use postal ballot method to pass the resolution. However, procedure for postal ballot is quite specific, time consuming and costly. If you adopt postal ballot route to pass the resolution then you should follow the postal ballot procedure in letter and spirit to make it legally valid. Considering the procedure of postal ballot I would not recommend you to go for the same for an unlisted company.

All the best

Querist : Anonymous

Querist : Anonymous (Querist)

16 April 2013 thank you sir, but does your postal ballot procedure in letter means that i should better comply with all rules given for a listed company to make it valid.

if yes, where can i get a detail on the steps apart from the one given under the postal ballot rules. looking forward to your guidance thanks

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

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!