Can Any One Calrify My Below Question:
If Mr. 'X' is a Member in 'AB' Company and also in 'CD' Company, and 'CD' Company is holding shares in 'AB' Company. Can 'CD' Company nominate Mr. 'X' as Proxy to attend the Annual General Meeting of 'AB' Company?
As per Sec 176 any member of a company entitled to attend and vote at a meeting of the company shall be entitled to appoint another person (whether a member or not) as his proxy to attend and vote instead of himself; but a proxy so appointed shall not have any right to speak at the meeting: Provided that, unless the articles otherwise provide-
1. this sub- section shall not apply in the case of a company not having a share capital;
2. a member of a private company shall not be entitled to appoint more than one proxy to attend on the same occasion; and
3. a proxy shall not be entitled to vote except on a poll.
Conclusion: Yes! Mr.X can be appointed as proxy of CD
Yes.Mr X (as a authorised representative) of CD Company can be proxy and vote on behalf of the Company provided a Board resolution is passed giving him the autority to act on behalf of the Company.Further he can also vote as a member of the AB Company.
Yes Mr. X can be appointed as representative u/s 187 (a) by the ‘CD’ company by resolution of its Board of directors, to attend the AGM of ‘AB’ company.
Further as per section 187(2) Mr. X shall be entitled to exercise the same rights and powers (including the right to vote by proxy) on behalf of the ‘CD’ company which he represents as that body could exercise if it were an individual member.
RG
Agreed with RG
YES....he can be appointed as proxy duly authorised through Board Resolution,
CAclubindia
