Proxy of sec 8 company

in sec 8 company proxy needs to member of same sec 8 company or different sec 8 company??
eg any abc club hold share in xyz ltd.for appointing proxy by abc club proxy need to be member of abc club or different sec 8 company
Replies (2)
Quick Summary
This discussion clarifies the rules surrounding proxies for Section 8 companies. Generally, a proxy must be a member of the same Section 8 company they are representing, as per Rule 19 of the Companies (Management and Administration) Rules, 2014. However, if a Section 8 company is a member of another company, it can authorise any individual via a board resolution to attend meetings on its behalf, in accordance with Section 113 of the Companies Act, 2013.

1.As per rule 19 of company(management and administration) rules 2014 which clearly says about only those members  can be appointed as proxy who is also member of same section 8 company to participate on behalf of the member of same sec-8 co. To participate in meetings of members of that sec-8 co.

2.now the second part of your query has different perspective that means the meeting of members of other company for which appointment of proxy supposed to do on , sec 8 co. being the member of other co. and for participation in the members meeting,section 8 company can authorise any person by way of passing board resolution by the section 8 co..   Read with section 113 of the companies Act, 2013.

Hope so this add some clarity. 

 

Thanx a lot sr

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