authorised representative of a foreign national

Pvt ltd 1162 views 4 replies

manoj kumar

130 Points Joined August 2008

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

Replies (4)

nidhigoel89

Company Secretary

596 Points Joined December 2009

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

manoj kumar

130 Points Joined August 2008

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 Joined May 2009

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 Joined May 2009

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