Validity of proxy
This query is : Resolved
Abhijeet Deshpande
(Querist)
27 July 2012
Hello,
As per the board resolution of XYZ Ltd. Mr. A, Mr. B & Mr. C (all three are directors) are appointed to represent company at various meetings held by & for company.
XYZ has an investment in say 10% of share capital of M Ltd. For the AGM of M Ltd, to be held at July end, XYZ Ltd. appoints Mr. D as a proxy.
Is this appointment of Mr. D valid? Can a director appoint proxy?
As per the board resolution of XYZ Ltd. Mr. A, Mr. B & Mr. C (all three are directors) are appointed to represent company at various meetings held by & for company.
XYZ has an investment in say 10% of share capital of M Ltd. For the AGM of M Ltd, to be held at July end, XYZ Ltd. appoints Mr. D as a proxy.
Is this appointment of Mr. D valid? Can a director appoint proxy?
Ajay Mishra
(Expert)
27 July 2012
Hi
Yes, you can do so, you can authorise any person to represent a company in any general meeting, if such person is authorised by Board of Directors.
Such authorise person present the proxy form signed by him/her along with certified copy of Board Resolution to appear in AGM before 48hrs.
Yes, you can do so, you can authorise any person to represent a company in any general meeting, if such person is authorised by Board of Directors.
Such authorise person present the proxy form signed by him/her along with certified copy of Board Resolution to appear in AGM before 48hrs.
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Abhijeet Deshpande
(Querist)
27 July 2012
Dear Sir,
Thank You for your reply.
But as per the proxy forms verified and resolution attached, Mr.D was not in the representation list of XYZ Ltd. Inspite of this, can he be appointed as a proxy?
Thank You for your reply.
But as per the proxy forms verified and resolution attached, Mr.D was not in the representation list of XYZ Ltd. Inspite of this, can he be appointed as a proxy?
Ajay Mishra
(Expert)
27 July 2012
Hi
It is not necessary that Mr. D should be director of the company. It may be any person whether he is director or not.
It is not necessary that Mr. D should be director of the company. It may be any person whether he is director or not.
Abhijeet Deshpande
(Querist)
27 July 2012
Thank You Sir :)
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