i have another query....plz help
can a member of a public company appoint 2 or more proxies if the articles are silent on this?whose vote will be counted??
Azim Khan ACA,CS,CMA*,LLB*
(Proprietor)
(1312 Points)
Replied 10 October 2010
agreed with aakash, proxy is generally allowed if the member is unable to attend the meeting due to any reasons, so as far as my knowledge is concerned, only one proxy can be appointed by a member.
Thank u.
Sunshine
(Helping All)
(10575 Points)
Replied 10 October 2010
what if a person appoints 2 proxies??who will be allowed to vote?? in case proxies allotted on different dates and if proxies alloted on same date?plz clearify with some example..
vardan sharma
(Company secretary)
(160 Points)
Replied 10 October 2010
Sec 176 (2) In every notice calling a meeting of a company which has a share capital, or the articles of which provide for voting by proxy at the meeting, there shall appear with reasonable prominence a statement that a member entitled to attend and vote is entitled to appoint a proxy, or, where that is allowed, one or more proxies
However this sectio does not apply to company not having share capital
From this above section it is clear that a person can appoint more than one proxy
For this purpose number of votes assigned in favour of each proxy must be stated clearly or it may divided on the basis of resolutions.
proxies become invalid if the member is revokes the proxies after being preset in the meeting.(Cousins Vs. International Bricks Co Ltd)
Mere presence of member will not have effect of revocation of proxy(Naraya Chettiar Vs. Kalleshwar Mills Ltd)
Sunshine
(Helping All)
(10575 Points)
Replied 10 October 2010
what about private companies sir?do their articles expressly need to permit them for appointment of more than 1 proxy?
ankit gupta
(article)
(81 Points)
Replied 10 October 2010
hey first of all tell me from which book you are studying??
Ashish Kukreja
(CA Final Student)
(587 Points)
Replied 11 October 2010
Hi Sneha
I recommend u to go through annual report of any company. It is clearly mentioned in "notice of AGM to shareholders" in Notes part.
A MEMBER ENTITLED TO ATTEND AND VOTE AT THE
ANNUAL GENERAL MEETING IS ENTITLED TO APPOINT A
PROXY TO ATTEND AND VOTE IN THE MEETING AND THE
PROXY NEED NOT BE A MEMBER OF THE COMPANY.
Only one proxy can be appointed.
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 11 October 2010
Plz do not get confuse. Proxy is appointed to vote in GM on behalf of a member. On this basis we may conclude that only one person can be a proxy for a member.
However through proxy instrument Mr. A can appoint Mr. B and failing him Mr. C as his proxy. In this case Mr. B has the first right to vote on behalf of Mr. A. If Mr. B failed to attend meeting them Mr. C can vote on behalf of Mr. A.
Hope it clarifies your doubt.
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 11 October 2010
Normally proxy appointed later is eligible to vote on behalf of a member. To understand in a better way with the help of charts plz find attach my law handout and check proxy chapter on page 7.
Regards
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