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General meeting

Co Act 2013 445 views 5 replies

Law Aspire

755 Points Posted on 21 April 2017

In a General meeting of a Public limited Company , if there are 50 Members who are Companies,
Can they appoint a single person as a duly authorized representative for attending the General meeting. For every company will he be considered as Member Present in Person?

Replies (5)

Sudhir Todkar

CS Professional

1021 Points Posted on 22 April 2017

No company cannot be appointed as proxy as authorized representative for all companies because it's violates 2 provisions of companies act 2013. To hold GM minimum number Quorum shall be present and there are limits on number of proxy, there are certain number of limit on proxy.

Ankit Goyal

21 Points Posted on 25 April 2017

As provided in sec-103 , quorum

single person can be appointed as proxy for all member if the total share of all company is not more then 10% of total voting rights

Ankit Goyal

21 Points Posted on 25 April 2017

and yes proxy will be counted as 50 members present in person

Law Aspire

755 Points Posted on 26 April 2017

I am talking about person representing Body Corporate and Not Proxy.

Khadija Vahora

Company Secretary

35 Points Posted on 17 May 2017

As per SS-2, one person can be an authorised representative of more than one body corporate. In such a case, he is treated as more than one Member present in person for the purpose of Quorum. However, to constitute a Meeting, at least two individuals shall be present in person. Thus, in case of a public company having not more than 1000 members with a Quorum requirement of five Members, an authorised representative of five bodies corporate cannot form a Quorum by himself but can do so if at least one more Member is personally present.

Hence, 1 Authorised Representative(AR) will not constitute quorum. At least 2 ARs are required.