quorum at AGM

Anupama Aggarwal (article) (70 Points)

24 February 2011  

Brief Facts of the case are given hereunder 1) That The composition of Shareholders of A Pvt Ltd is as under a) B Pvt Ltd holds 99.98% shares b) Ramu holds .01% Share c) Shamu holds .01% Shares In view of the above your opinion is invited on the following issues i) In the AGM of the Pvt Ltd Company two shareholders being quorum has to be present in person. If I am right in means the in the case of absent of the representative from the holding company Ramu and Shamu has to be present in person no proxy will work in that case ii) In case one out of Ramu or Shamu is not present than how the requirement of present in person of two shareholder will be meet since the holding company is an artificial judicial person and cannot be present in person Kindly give your views with reference of law and case law