Voting at egm through proxy
This query is : Resolved
05 August 2013
Sir, please advice if a proxy form in case of joint holders should be signed by all joint holders of the share or
only holder named first in register can alone sign proxy form to authorise proxy for voting
only holder named first in register can alone sign proxy form to authorise proxy for voting
05 August 2013
Hi
Signing of proxy in the case of jointholders
A proxy may be signed by the following persons:—
(a) In the case of jointholders, all of them have equal rights as members and, therefore, unless otherwise provided, proxy forms should be signed by all the jointholders;
(b) By the individual sole member of a company;
(c) Power of attorney holder of a member of a company;
(d) Authorised representative of a body corporate;
(e) By receivers/liquidators and/or executors of a member.
Signing of proxy in the case of jointholders
A proxy may be signed by the following persons:—
(a) In the case of jointholders, all of them have equal rights as members and, therefore, unless otherwise provided, proxy forms should be signed by all the jointholders;
(b) By the individual sole member of a company;
(c) Power of attorney holder of a member of a company;
(d) Authorised representative of a body corporate;
(e) By receivers/liquidators and/or executors of a member.
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06 August 2013
thank you, Sir
for example :in case, article says that "in case of joint holders, any one of such persons may vote either in person or by proxy as if he was solely entitled thereto"
if there are three joint holders, A,B,C. B sends a proxy form signed alone. n C also send a proxy form signed alone.
order of names in register is A,B and then C
now as CS, should i reject both proxy forms since not signed by all
or accept B's proxy form being second named holder
for example :in case, article says that "in case of joint holders, any one of such persons may vote either in person or by proxy as if he was solely entitled thereto"
if there are three joint holders, A,B,C. B sends a proxy form signed alone. n C also send a proxy form signed alone.
order of names in register is A,B and then C
now as CS, should i reject both proxy forms since not signed by all
or accept B's proxy form being second named holder
06 August 2013
Hi
Your article is talking about voting by member or by proxy as per your above article.
No, proxy form will be signed by all joint shareholders, because they have right to appoint proxy so it is required to sign proxy form by all joint holders.
No, CS has no right to reject the proxy form if proxy form is properly executed.
Your article is talking about voting by member or by proxy as per your above article.
No, proxy form will be signed by all joint shareholders, because they have right to appoint proxy so it is required to sign proxy form by all joint holders.
No, CS has no right to reject the proxy form if proxy form is properly executed.
06 August 2013
Sir, at one place you are saying that proxy form should be signed by all joint holders.
and at the other, it is given that CS cannot reject a proxy form if two separate proxy forms are received signed only by 1 joint holder each.
my question is for one share folio, there can be only one proxy, which proxy form should be approved. thanks
and at the other, it is given that CS cannot reject a proxy form if two separate proxy forms are received signed only by 1 joint holder each.
my question is for one share folio, there can be only one proxy, which proxy form should be approved. thanks
06 August 2013
Yes the signature block is given , you will take signature of all joint holders. If you have register in your Register that only one member whose name is register in your Register of Member is authorised to issue proxy form then only such member of out of such joint holders will sign and issue profy form.
The legal provision is that one member issue proxy form then his/her signature is tallied with specimen signature form speciman signature.
Please check what and whom specimen signature you have maintain, only that person is authorised to sign proxy form.
If two separate proxy from signe by same members submitted to the company, then later proxy form will be accepted by CS.
The legal provision is that one member issue proxy form then his/her signature is tallied with specimen signature form speciman signature.
Please check what and whom specimen signature you have maintain, only that person is authorised to sign proxy form.
If two separate proxy from signe by same members submitted to the company, then later proxy form will be accepted by CS.
06 August 2013
Sir, thanks
now the application form during initial issue of shares for folio no. 1 was signed by three holders as
first applicant, A
second applicant, B &
third applicant, C
One Share certificate was issued specifying names in the order of
A
B
C
register of members for folio 1 shows, name of shareholder as A, name of joint holders as B and C
proxy forms are submitted by B and C for two distinct proxy, now request ur advice
now the application form during initial issue of shares for folio no. 1 was signed by three holders as
first applicant, A
second applicant, B &
third applicant, C
One Share certificate was issued specifying names in the order of
A
B
C
register of members for folio 1 shows, name of shareholder as A, name of joint holders as B and C
proxy forms are submitted by B and C for two distinct proxy, now request ur advice
06 August 2013
Sorry for above confusion,
Now, I have contacted our RTA on your case, they have give answers which is as follow:
In case of Joint Shareholders, the company will accept the proxy form in two condition of signing,
Firstly, if such proxy form is signed by all joint holders and submitting one proxy form with company and.
Secondly, the firs jointholder whose name is registered in the Refister of member as first jointholder, whose signature will be considered for proxy form purposes.
Now, I have contacted our RTA on your case, they have give answers which is as follow:
In case of Joint Shareholders, the company will accept the proxy form in two condition of signing,
Firstly, if such proxy form is signed by all joint holders and submitting one proxy form with company and.
Secondly, the firs jointholder whose name is registered in the Refister of member as first jointholder, whose signature will be considered for proxy form purposes.
06 August 2013
thank you for the above clarification, Sir.
the second option that your RTA has mentioned, i hope is not countered at a later stage by second and third holder.
since there is no written law on accepting proxy form from first holder, it is only a practice.
Rather, as a safeguard, i can take an authority letter from B & C authorising A for signing proxy forms for any future purpose. correct if am wrong. thanks for your valuable time.
the second option that your RTA has mentioned, i hope is not countered at a later stage by second and third holder.
since there is no written law on accepting proxy form from first holder, it is only a practice.
Rather, as a safeguard, i can take an authority letter from B & C authorising A for signing proxy forms for any future purpose. correct if am wrong. thanks for your valuable time.
06 August 2013
Yes, you can use for best corporate practice.
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