Proxies Power

Save Share

This query is : Resolved

seenivasa varathan (Querist)

10 August 2009 Please Clarify anyone -

In the Annual General Meeting proceedings,What is the powers/ rights of Proxies
- Can they speak on the debate(on the motion) ?
- Can One person represent as proxy for more than twenty members ?
-Proxies position-- Any proposal from the Member for the appointment of independent Director u/s 257(1) of the Companies Act( without the recommandations from the board)?
Thanks in advance
Varathan

Ankur Garg

Ankur Garg (Expert)

10 August 2009 Hi,

1. A proxy, being a representative of a member, cannot participate in the proceedings or speak unless the Articles otherwise provide. He cannot vote on a show of hands. He can, however, vote if a poll is demanded. He can also demand a poll.

2. Yes. One person can represent as proxy for more than twenty members as there is no prohibition in law.

3. Please explain your 3rd query.

Regards

Message likes : 1 times

seenivasa varathan

seenivasa varathan (Querist)

10 August 2009 Thanks for your reply. My 3 rd question is-
One Member is given a notice to the Public Ltd Co., u/s 257(1) of the Companies Act, to appoint him as independant Director in the AGM,(with a fee of Rs.500/-) against the wishes of the present management.

Will the Proxies participate in the motion or not?

Ankur Garg

Ankur Garg (Expert)

10 August 2009 As mentioned earlier in my reply there are certain restrictions on proxy's power:

Yes he can vote.

But he cannot vote on a show of hands. He can, however, vote if a poll is demanded.

Regards

Message likes : 1 times

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