Voting in a company having 100% foreign shareholding
This query is : Resolved
06 August 2010
X pvt. ltd. is a company in which 99% shareholding is being held by a foreign company and 1% being held by its nominee in India, the question is at the time of an EGM/AGM whether the peresence of both the members is required.
Jagruti (CS)
(Expert)
06 August 2010
Yes, for Pvt Company quorum of general Meeting is 2 members personally present.
Hence even their proxies presence will not be counted as quorum.
Hence even their proxies presence will not be counted as quorum.
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06 August 2010
u/s 187(2) a person authorised to represent the body corporate is entitled to exrecise rights and powers including the right to vote by proxy.
Further, also explain the position of a public co. for the same
Further, also explain the position of a public co. for the same
Jagruti (CS)
(Expert)
13 August 2010
Yes, representative of Foreign Company can be counted for quorum .
Kindly clarify " also explain the position of a public co. for the same "??
Kindly clarify " also explain the position of a public co. for the same "??
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