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Board & annual general meetings with Proxy votes

Poornima N Ramakrishna (Finance Manager) (66 Points)

15 February 2008

Dear expert forum mates,

Is it possible to hold board and annual general meetings of a section 25 company with proxy votes. Two out of three directors reside outside india and one in india. Is it compolsary to hold the board and annual general meeting in india? What is the minimum number of board meetings required for a section 25 company.

Thanks in advance to all the genius..souls
Poornima

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S.Srinivasaraghavan (Chief Financial Officer and Co) (11318 Points)
Replied 15 February 2008

1.Directors can not have proxies, but they can have alternates. Board meeting can not be held with without the directors (or their alternates ) being personally present to form a quorum. 2. In the case of general meetings also quorum should be present in the form of members. Proxies are not counted for quorum. 3. Board meetings can be held outside India if AOA does not prevent. AGM has to be held in the city/town where registered office is situated.