Quorum at the adjourn EGM
This query is : Resolved
CS Ashish Jain
(Querist)
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
(Expert)
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
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
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.)
(but in any case a single member cannot transact the business unless there is only 2 members.but there is no prohibition by law.)
CS Ashish Jain
(Querist)
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
(Expert)
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).
However, there is one exception mentioned u/s 174(3), where the meeting stands dissolved.
Kindly go through section 174(3).
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