Proxy

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Querist : Anonymous

Querist : Anonymous (Querist)

28 February 2017 FACTS:
A, B and C are shareholders of the company XYZ Private Limited. A holds 80% of shares of the company, B holds 0.3% shares of the company and C holds 0.5% shares of the company.
XYZ Private Limited holds Annual General Meeting in year 2016.
Query:
1. Can “A “ be appointed as Proxy on behalf of B and C in annual general meeting of XYZ Private Limited,
2. If yes, then Shareholding of A will also be counted for appointing proxy on behalf of A and C or only hat of B and C will be counted. (A person can act as proxy on behalf of members not holding in aggregate not more than 10% of share capital in relation to section 105 read with Management and Administration Rules 2014).

Expert : Anonymous

Expert : Anonymous (Expert)

28 February 2017 MCA notification dated 5th June 2015 has exempted pvt companies from the purview of section 101 to 107 if articles otherwise provide.... in simple articles > act for the above sections.... if articles are silent follow act

Expert : Anonymous

Expert : Anonymous (Expert)

28 February 2017 A can be appointed as proxy... since B & c combined holding is less than 10%.. however one person alone form meeting... minimum two required

Expert : Anonymous

Expert : Anonymous (Expert)

28 February 2017 one person cannot****

Querist : Anonymous

Querist : Anonymous (Querist)

03 March 2017 Thanks for reply sir.One more thing wish to clarify with you. Rules says "holding more than 10% of total share capital of company carrying voting rights does it mean 10% of its paid up capital?
or
10% of its authorised capital

Querist : Anonymous

Querist : Anonymous (Querist)