Quorum at the adjourn EGM

This query is : Resolved

CS Ashish Jain (Querist)
Follow

21 October 2010 In case of adjourn EGM of a public company if only one member present, whethet it constitutes a valid meeting and business can be transected at that meeting.

POOJA SACHDEVA

POOJA SACHDEVA (Expert)
Follow

21 October 2010 Dear Sir

No business can be transact if only one member present at the meeting (Quorum must be present as per the rule two or more people must be present for a meeting or one third member or two member must be present

CA.Mini

CA.Mini (Expert)
Follow

21 October 2010 U/s 174(5) of the Companies Act if at the adjourned meeting also a quorum is not present within half an hour from the time appointed for holding the meeting ,the members present shall be a quorum.
(but in any case a single member cannot transact the business unless there is only 2 members.but there is no prohibition by law.)

Rasesh

Rasesh (Expert)
Follow

22 October 2010 Agree with expert Mini

CS Ashish Jain

CS Ashish Jain (Querist)
Follow

22 October 2010 If only one member present in the adjourn EGM then what will be the status of the meeting. Whether meeting will be dissolved.

Ankur Garg

Ankur Garg (Expert)
Follow

22 October 2010 Yes. It can be further adjourned due to lack of quorum.

However, there is one exception mentioned u/s 174(3), where the meeting stands dissolved.

Kindly go through section 174(3).

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