Section 372A

This query is : Resolved 

29 December 2009 Is it mandatory to pass shareholders resolution under section 372A by way of Postal Ballot or it can be passed in general meeting?

29 December 2009 it can be passed in general meeting

29 December 2009 here the the limit prescribed under Section 372A (of 60% of paid up share capital & free reserves of 100 % of free reserves) is exceeding..then it is compulsory to pass the resolution by postal ballot na?


29 December 2009 If your company is a listed company then use of Postal Ballot is mandatory for 372A.

In case of an unlisted company you may go for a general meeting resolution.

For removal of doubts check Postal Ballot Rules, 2001.

Regards

29 December 2009 thank you sir.



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