Postal ballot item

Ratika,

One Person Company and other companies having members upto two hundred are not required to transact any business through postal ballot.

1. Only Alteration of AOA in relation to insertion or removal of provisions which under sub sec (68) of sec 2 are required to be included in the Articles of  a company in order to constitute it a priveate company but not any other alteration in AOA requires approval by postal ballot.

2. Sale of the whole or substantially the whole of an undertaking of a company as specified under sub-clause (a) of sub-section (1) of section 180. but if your company is only increasing borrowing limits as per section (c) of section 180, not required approval byway of postal ballot

3) Giving loans or extending guarantee or providing security in excess of the limit specified under specified under sub-see (3) of section needs approval by way of postal ballot.

if your company attracts the provisions of this section, seeking approval for any of items stipulated under clause 16 of Rule 22 of the Companies (Management adn Administration) Rules, 2014 requires to be taken approval by way of postal ballot only, taking approval in forth coming AGM, deemed to be non compliance of provisions of Act, attracts huge penlties.