In a Quorum (Section - 174) of a public company the no of member may get reduced below 5 but subsequently it shall not get reduced below 2.
is it right.?
if yes/ if no..give reason plz
1 Replies
lokesh maheshwari
(partner)
(62 Points)
Replied 18 March 2011
1) Unless the articles of the company provide for a larger number, five members personally present in the case of 1[public company (other than a public company which has become such by virtue of section 43A), and two members personally present in the case of any other company,] shall be the quorum for a meeting of the company.
(2) Unless the articles of the company otherwise provide, the provisions of sub-sections (3), (4) and (5) shall apply with respect to the meetings of a public or private company.
(3) If within half an hour from the time appointed for holding a meeting of the company, a quorum is not present, the meeting if called upon the requisition of members, shall stand dissolved.
(4) In any other case, the meeting shall stand adjourned to the same day in the next week, at the same time and place, or to such either day and at such other time and place as the Board may determine.
(5) If at the adjourned meeting also a quorum is not present within half an hour from the time appointed for holding the meeting the members present shall be a quorum.
AS PER SECTION 174 MINIMUM 5 MEMBERS WILL BE PRESENT IN THE KMEETING FOR QUORUM , IF 5 MEMBERS WERE NOT PRESENTED IN THE MEETING IT WILL BE ADJOURNED AFTER THAT IF QUORUM IS NOT PRESENTED IN ADJOURNED MEETING ALL OF THE PRESENT MEMBERS WILLL BE TREATED AS QUORUM
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