Section 314
This query is : Resolved
28 May 2010
as per the list of business to be conducted thru postal ballot doesnot contain the election of manager or any other person to the place of office u/s 314 (1B) , but many companies have been electing sum people in place of profit thru postal ballot.
can we do the same? Does it not contravene any law or regulation?? Does any circular or guideline support this
can we do the same? Does it not contravene any law or regulation?? Does any circular or guideline support this
06 June 2010
Section 314(1B) basically requires prior approval of members, which can be sought at an EGM (physically called) or simply by way of a resolution passed by way of postal ballot. There is no violation and is completely valid.
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