Is the quorum required for passing a resolution ?
e.g. :- ABC Ltd. has 3000 members and the annual general meeting of the company is due to be held on 23 - 04 - 2018 at 10:00 a.m. on the day of the meeting 20 members were personally present by 10:30 a.m. and the chairman proceeds to initiate the chronicles of the meeting. there were 4 special businesses to be discussed at the said meeting and by 1:30 p.m. agenda 1 to 3 had been discussed and appropriate resolutions were passed. However due to emergency , 6 of the members had to leave around 2:00 p.m. The chairman granted them the permission and proceeded to discuss agenda 4 and accordingly passed resolution as per the consent of the remaining members.
WHETHER THE MEETING IS A PROPERLY CONVENED MEETING AS PER THE PROVISIONS OF THE SECTION 103 OF THE COMPANIES ACT, 2013 ???????
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SECTION 103
Replies (1)
No, Quorum should be present not only at the time of inception of meeting while also when transacting each agenda item....In this case quorum reduced below the Min. Requirement of law hence It should be adjourned due to want of quorum... Any Resolution passed with such reduced no. of members will not be considered passed and valid...
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