Professional

Does a person should not act as proxy for more than 10 % of the Total Shareholding or voting rights. or this condition is fulfilled only if the proxy is for more than 50 members?

Please clarify

 
Reply   
 

Hello
Both the condition need to be fulfilled simuntaneously
A person can't be appointed as proxy of more than 50 members and holding not more than 10% of total shareholding carrying voting rights.
Eg. Mr.A has been appinted as proxy of 40 members and holding 10% voting rights then he cant be further hold proxy for balance limit (i.e 50)
And a member holding more than 10% voting rights can appoint a person as proxy provided he shall not act as peoxy for any other member
Thanks.
 
Reply   
 

LEAVE A REPLY

Your are not logged in . Please login to post replies

Click here to Login / Register  

 


×

  CCI MENU