Section 230(4)&(6)Read with rules of Co. Act
Sub section 4
says members or creditor can vote either himself or through PROXY or postal ballot.
Sub section 6
Says that members required to PRESENT & VOTE for count 3/4 in value and majority in voting.
NOW query is if members / creditor want to voting through postal bellot can I count for PRESENT & VOTE. this person is not present but he give vate.
Dear sir,
As per my understanding , sub section 6 says if majority of persons who agree to the compromise by themselves or by proxy or by postal ballot, have 3/4th in value of such creditors or members as the case may be, it shall be binding on the company.
Nowhere it is mentioned in sub section 6 that member should be "PRESENT".
Conclusion: I would like to say that even if the person vote by himself or by proxy or by postal ballot. It is considered as valid.
Kindly correct me if I am wrong.
Thanks.
CAclubindia
