Section 314(1B)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 May 2010 as per the list of business to be conducted thru postal ballot doesnot contain the election of manager or any other person to the place of office u/s 314 (1B) , but many companies have been electing sum people in place of profit thru postal ballot.

can we do the same? Does it not contravene any law or regulation

Rasesh

Rasesh (Expert)
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26 May 2010 The business requires prior approval of members which means that an AGM/EGM has to be called for and approval of members is to be taken before making the appointment.

The resolution if passed by members through postal ballot, will save the time and expense of holding the EGM and the same time the requirement of having prior approval gets satisfied easilly.

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