hiten (none) (71 Points)
14 May 2010this query is in relation to a question quoted by the icai in may2010 law pcc..... In a situation where a proxy has been appointed by the member within prescribed timelines, but at the time of meeting, the proxy as well as the member attend and vote at the meeting, so whoose vote shall be considered valid?
revert soon!!!
Thank you
Jagruti (CS)
(Service)
(1953 Points)
Replied 14 May 2010
Agree with Mr. Rohit that members attending proxy will be considered as revocation of Proxy.
YOu can even refer case: Cousins v. INternational Bricks Co. Ltd. (1931)
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 14 May 2010
The proxy can be revoked at any time by way of written notice thereof. However, Where a shareholder who having given proxy, personally attends and votes at the meeting, the proxy is revoked thereby.
Cousins V. International Bricks Co. Ltd. it was held that the shareholder who was present at the meeting can not be deprived by the company to vote in person, even though he had given a proxy to some other person to vote for him at the same meeting;
the fact that the proxy was not revoked in the manner as pescribed in articles did not prevent hte member recording his vote in person to the exclusion of the proxy holder.
Thus the vote by the member himself is valid vote.
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 14 May 2010
Download the attachement to understand the provisions of Proxy in a better way.
Best Regards
Sudev Namboothiri
(CA FINAL)
(432 Points)
Replied 14 May 2010
If the cast vote first proxy's vote will be valid..
but if the personelly attend and the proxy will be revocked...
CA Abdul Haseeb
(Employed)
(147 Points)
Replied 14 May 2010
In simple words as per MPVs book... wen the member himself attends the meeting the proxy gets cancelled automatically
Kalpesh Chauhan,
(Tax Assistant (Accounting Technician CA FINAL CS PROF. PROG. B.Com))
(8311 Points)
Replied 14 May 2010
CA Manikandan Raghunath
( )
(609 Points)
Replied 15 May 2010
If the member attends the meeting, the appointment of proxy gets cancelled automatically...
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 15 May 2010
I think Mr. Hiten your query must be solved now.....
CAclubindia
