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Query on quorum of 2 for general meeting of wholly owned sub

Meetings 1580 views 1 replies
Dear All,
 
Please let me know how to fulfill the criteria of adequate quorum  of 2 person physically present for General Meeting of wholly owned subsidiary.
 
Also let me know the whether proxy is counted as quorum for the meeting.
 
Thanks & Regards,
Ranjani V
Replies (1)

As per Sec.103 quorum is two  members personally  present in the meeting.  Hence proxy is not to be counted for quorum.  But representative of company duly authorised by Board resolution will be treated as member personally present as per Sec.113(2) and will be counted for quorum.  Further, person who  is holding shares as  a nominee of the holding company will also be considered as a member personally present.  Hence in case of WOS quorum can be completed by the presence of both.

 


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