Whether presence of director be made necessity for quorum?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 August 2015
Can a shareholding agreement mention that for an AGM or EGM to be in quorum, the presence of a director is necessary?
07 August 2015
http://taxguru.in/company-law/companies-act-2013-meetings-board-committees.html
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 August 2015
the query is about general meetings not board meeting
07 August 2015
The provisions of shareholders agreement can be effective only when such provisions are incorporated in AOA of the Company.
AS per my understanding, you can mention in AOA, that presence of director is necessary in EGM, provided he/she should be the members.
Quorum of GM counts the presence of members and not directors. Hence, he/she should be members cum director.
But as I mentioned, you need to incorporate such clause in AOA. Having this clause in Shareholding agreement can not mandate directors to be present.
Thanks
AS per my understanding, you can mention in AOA, that presence of director is necessary in EGM, provided he/she should be the members.
Quorum of GM counts the presence of members and not directors. Hence, he/she should be members cum director.
But as I mentioned, you need to incorporate such clause in AOA. Having this clause in Shareholding agreement can not mandate directors to be present.
Thanks
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