Proxy


Pooja (Professional)     03 December 2018

Pooja
Professional 
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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

avater

kapil gupta   03 December 2018

kapil gupta

 14 likes  207 points

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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.


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