Quorum for a wholly owned subsidiary?

Save Share

This query is : Resolved

Nisha Singhal (Querist)

18 August 2012 How shall the quorum of general meeting for a private limited wholly owned subsidiary company be obtained?

All the shares except one of the company is held by a foreign company. one share is held by an Indian as nominee shareholder of that Foreign Company. Can that one person alone form the quorum for the EGM? Pl. advise its urgent!

Amol S Joglekar

Amol S Joglekar (Expert)

18 August 2012 Normally under such situation the help of PROXY is being taken.

Nisha Singhal

Nisha Singhal (Querist)

18 August 2012 Respected Sir,

Pl. explain in detail. can that 1 person alone as proxy/ authorized representative form a quorum for the purpsoe of EGM?

Awaiting your valuable guide!

Thanks & Regards,
Nisha Singhal

Amol S Joglekar

Amol S Joglekar (Expert)

18 August 2012 Proxy need not be the same person. This will basically depend upon the relations amongst the members. There is no harm in appointing the same person as proxy. (Concentration of power)

Nisha Singhal

Nisha Singhal (Querist)

18 August 2012 with your expert advise I understood that a single person can form a quorum for the purpsoe of EGM of thewholly owned subsidiary company.

Correct me If I am wrong!

And Thanks so much for your cooperation and guidance

Regards,
Nisha

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