Section 372A
This query is : Resolved
29 December 2009
Is it mandatory to pass shareholders resolution under section 372A by way of Postal Ballot or it can be passed in general meeting?
Arjuna Raina
(Expert)
29 December 2009
it can be passed in general meeting
29 December 2009
here the the limit prescribed under Section 372A (of 60% of paid up share capital & free reserves of 100 % of free reserves) is exceeding..then it is compulsory to pass the resolution by postal ballot na?
Ankur Garg
(Expert)
29 December 2009
If your company is a listed company then use of Postal Ballot is mandatory for 372A.
In case of an unlisted company you may go for a general meeting resolution.
For removal of doubts check Postal Ballot Rules, 2001.
Regards
In case of an unlisted company you may go for a general meeting resolution.
For removal of doubts check Postal Ballot Rules, 2001.
Regards
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