In the Annual General Meeting proceedings,What is the powers/ rights of Proxies - Can they speak on the debate(on the motion) ? - Can One person represent as proxy for more than twenty members ? -Proxies position-- Any proposal from the Member for the appointment of independent Director u/s 257(1) of the Companies Act( without the recommandations from the board)? Thanks in advance Varathan
1. A proxy, being a representative of a member, cannot participate in the proceedings or speak unless the Articles otherwise provide. He cannot vote on a show of hands. He can, however, vote if a poll is demanded. He can also demand a poll.
2. Yes. One person can represent as proxy for more than twenty members as there is no prohibition in law.
10 August 2009
Thanks for your reply. My 3 rd question is- One Member is given a notice to the Public Ltd Co., u/s 257(1) of the Companies Act, to appoint him as independant Director in the AGM,(with a fee of Rs.500/-) against the wishes of the present management.
Will the Proxies participate in the motion or not?
CAclubindia
