Ours is a listed public company having a 100% subsidiary in US. That US subsidiary company is conducting an EGM and hence as a 100% sole shareholder, our company is required to participate in the meeting.
For the representation at the meeting our Company board has to appoint one person / director to participate and vote at the EGM of the subsidiary.
Query is - If there is no board meeting authorising any person / director participate at the EGM of the subsidiary company, Can any Executive Director participate in the EGM and vote for the resolution and then get the same ratified at the next board meetin of our company.
kindly reply on priority.
CAclubindia
