CA Mihir Shah (Working with Suresh Surana & Associates) (231 Points)
27 January 2010hey friends,
can anybody tell me whether a body corporate appoint other body corporate as a proxy to attend AGM. if so can u giv reference of companies act???
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 27 January 2010
Hello,
Yes it is very much possible. By virtue of section 187(1)(a) ABC Limited by passing a board resolution, may appoint a person (may be another co. like XYZ Limited) as its proxy.
Now again XYZ Limited, as XYZ Limited can not vote personally, appoint someone under section 187(1)(a) by passing a board resolution, to convey its vote. But ultimate person should be an individual to actually convey the vote in the GM.
Regards
CourseCart.in
(Mentor at SHAYVIDZ Academy)
(3756 Points)
Replied 27 January 2010
| Originally posted by : Ankur Garg | ||
 |
Hello, Yes it is very much possible. By virtue of section 187(1)(a) ABC Limited by passing a board resolution, may appoint a person (may be another co. like XYZ Limited) as its proxy. Now again XYZ Limited, as XYZ Limited can not vote personally, appoint someone under section 187(1)(a) by passing a board resolution, to convey its vote. But ultimate person should be an individual to actually convey the vote in the GM. Regards |
 |
Dear Mihir,
Fully agree wid Ankur Sir..
ABC Limited (In above example) can get the benefit if it is not having the expert of the sector in which ABC Ltd has made investment, by appointing XYZ Ltd (whhich may of the said sector) as Proxy & XYZ will appoint its representative for the said meeting..
Adarsh
CAclubindia
