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?
Menu
General meeting
Replies (5)
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.
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
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
and yes proxy will be counted as 50 members present in person
I am talking about person representing Body Corporate and Not Proxy.
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.
Recent Topics :
- GSTR-9 Table 8A Portal and Excel Issues
- IGST on Commercial Rental Income (Different State)
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
- HDFC Bank’s Bureaucracy: The Nightmare of Fl
- Running a CSC Center, Maha E-Seva Kendra, Setu Ken
- GSTR-9 Table 8A issue
- CA Inter Coaching institutes at Hyderabad
- Looking for practising CA
Related Topics :
CAclubindia
