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authorised representative of a foreign national

manoj kumar (cs) (130 Points)

16 April 2011  

 

Dear Friends.

One of our client company is a wholly owned subsidiary of korean company, having two shareholders (korean company and a foreign national holding one equity share as nominee of korean company) wants to hold annual general meeting but the foreign national nominee can not come to delhi for the agm. so pls let me know in wat manner the agm can be held.

korean company can appoint an indian as its authorised representative as per section 187 of the CA, 1956 but is it possible for the other share holder to appoint an indian as his authorised representative?

manoj kumar
company secretary
88009 11319

 4 Replies

nidhigoel89 (Company Secretary ) (582 Points)
Replied 16 April 2011

Hello!

I m considering the foreign national as an indiviual. So, as per my understanding, if i m nt missing anything then as per sec 176 he is a member of co. and has a right to appoint proxy to attend the meeting.......

 

Contrary views are welcomed........

Regards

Nidhi

1 Like

manoj kumar (cs) (130 Points)
Replied 16 April 2011

thanx for the quick words.

i agree with you but the proxies are not counted for quorum. How to establish minimum number of member to form a quorum?

manoj

CA Sandeep Kumar (Audit Assistant) (804 Points)
Replied 16 April 2011

This is an extreme situation.. There is a case law, facts in brief-  wherein only shareholders were there, the minority shareholder was not attendin tthe meeting, therefore CG/CLB can give directions that one man can form quorum. 

Gates Corpn vs Anand Gates (99) 22scl 76=36 CLA 258 CLB

 

(Source : VS DAtey)

CA Sandeep Kumar (Audit Assistant) (804 Points)
Replied 16 April 2011

Sorry mistak in previous post, CORRECTIONS HIGHLIGHTED

This is an extreme situation.. There is a case law, facts in brief- wherein only 2 shareholders were there, the minority shareholder was DELIBERATELY not attendin tthe meeting, therefore CG/CLB can give directions that one man can form quorum. 

Gates Corpn vs Anand Gates (99) 22scl 76=36 CLA 258 CLB



(Source : VS DAte


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