04 October 2008
As per sec 174 of the Companies Act, 1956; a public ltd co shall have 5 members personally present at any EGM/AGM in order to form the Quorum.
Is if 1 person represents all other members will it be sufficient compliance for the purpose of Quorum? (As per my understanding, min of 5 persons should attend the meeting, irrespective they are representing someother members or not.)
If 5 members appoint 5 proxies who only attend the meeting, is it a valid meeting?
If it is a valid meeting with regards to the previous point,and 1 proxy leaves the meeting hall after attending half the session, is it a valid meeting?
CAclubindia
