vivek (CS) (751 Points)
16 July 2010Dear All,
If a Pvt. Ltd. company is having only two shareholders and amongst two one is a body corporate. The body corporate gives proxy for attending AGM, is this violation of law for AGM quorum u/s 174 of COmpanies Act, 1956.
Please clarify the meaning of " two members personally present" does it include only the authorized representative of a body corporate or the proxy of the authorized representative of a body corporate?
Regards,
Nitin Grover
(CS)
(1228 Points)
Replied 16 July 2010
Means any of the Director of that Company (body corporate as a shareholder)
and ya consequence is Quorum is not present and meeting shall stand adjourned to the same day in the next week, at the same time and place, or to such other day and at such other time and place as the Board may determine.
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.
Regards
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 16 July 2010
In my opinion "two members personally present" shall include precence in person or by authorised representative but it does not in any case includes the proxy.
As Mr. Nitin rightly said, the meeting would be adjourned till the same date, placeand time in the next week or at any date time and venue as the directors may determine.
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 treated as quorum.
vivek
(CS)
(751 Points)
Replied 16 July 2010
Nitin Grover
(CS)
(1228 Points)
Replied 16 July 2010
ya dear
authorised by Resolution is fine
Generally its Director or Admin Officer because of Business Important Transactions
Regards
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 16 July 2010
| Originally posted by : vivek | ||
 |
Thank you for your prompt reply, any one can become authorized representative of a body corporate if one has been authorised by way of the resolution of the said body corporate. Is it ok? |
 |
Ofcourse Mr. Vijek,
It is ok, The Board can authorise anyone by way of Board Resolution to attend the general meeting on the behalf of the company.
palak
(cs)
(385 Points)
Replied 22 July 2010
IF AGM IS ADJOURNED DUE TO WANT OF QUORUM . THAN ADJOURNED AGM CAN BE HELD ON SUNDAY .
AM I RIGHT?
Yogesh Bhatt
(Company Secretary)
(475 Points)
Replied 23 July 2010
| Originally posted by : palak | ||
|
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IF AGM IS ADJOURNED DUE TO WANT OF QUORUM . THAN ADJOURNED AGM CAN BE HELD ON SUNDAY . AM I RIGHT? |
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YES.
Nitin Grover
(CS)
(1228 Points)
Replied 23 July 2010
Dear Palak
If AGM is Adjourned due to Quorum then AGM will be held on next week on same day at same time.
AGM can not be held on Sunday means to say that if Original AGM can not be held on Sunday then Adj. AGM can not be held on Sunday (Adj. AGM will be on same day in next week)
Regards
CAclubindia
