hi,
a foreign company in INDIA having 90% holding and 10% holding by non residents , so for AGM can they appoint proxies , give me clear sections regarding this ,
thanks in advance ,
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Proxy
Replies (2)
if a foreign is holding 90% shares of company in indian then the foreign company can appoint a representative who can attend the agm on behalf of the company
As per act presence of atleast 2 members in person, in case of private limited cmpany, is required. So, in this case, the foreign company can however authosie some person to be present in AGM but atleast one NRI need to be pesent in person, they can not appoint the proxy.However, the other NRIs can appoint their proxies.
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