A private ltd company having two members only conducts an EGM (EGM has been called by board of directors on own motion), one meber attends meeting and other member send a valid proxy form .....Hence the quorum as per section 174(4) is not formed and meeting gets adjourned on same day next week same time....At the adjourned meeting also one member attends and other member send a valid proxy form....Is this time quorum is formed ? i.e. a clarifications sited : Can a single member form quorum at the adjourned meeting as per proviso of sec 174(5)
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Quorum of general meeting of pvt. ltd. company
Replies (2)
Section 174(5) reads as under:
"If at the adjourned meeting also, a quorum is not present within half an hour from the time appointed for holding the meeting, the members present shall be a quorum."
Corresponding Section 103(3) of Companies Act 2013 notified on 12.9.2013 also contains same provision.
Since the word used here is 'members' (plural) and not 'member' (singular), a singular member cannot form a quorum and the meeting shall stand cancelled.
| Originally posted by : P C Agrawal | ||
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Section 174(5) reads as under: "If at the adjourned meeting also, a quorum is not present within half an hour from the time appointed for holding the meeting, the members present shall be a quorum." Corresponding Section 103(3) of Companies Act 2013 notified on 12.9.2013 also contains same provision. Since the word used here is 'members' (plural) and not 'member' (singular), a singular member cannot form a quorum and the meeting shall stand cancelled. |
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But Sec 174(5) does not contain the word personally present so can the proxy be counted for quorum
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