Question

are proxies counted for determini
gng qourum of an annual general meeting​

Answer 1

Answer:

A ‘Quorum’ in simple words means the minimum number of members that have to be present in a meeting. Under the Act, the quorum for a General Meeting, a Board Meeting and an Extraordinary General Meeting is enumerated within its provisions.

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Quorum Required for a General Meeting

For public companies

For private companies

Non-Fulfillment of Quorum Requirement

Quorum Required for a Board Meeting

Section 174 (1) of the Act

Section 174(2) of the Act

Section 174(3) of the Act

Section 174(4) of the Act

Exceptions to Quorum

Quorum Required for a General Meeting

Section 103 of the Act states the quorum required for a General Meeting. Under this Section, unless the Articles of Association of the company provide for a larger quorum, the minimum quorum must be:

For public companies

5 members to be present if as on the date of the meeting being held, the number of members in the company does not exceed one thousand.

15 members to be present if as on the date of the meeting there are more that one thousand members but less than five thousand members.

30 members to be present if as on the date of the meeting there are more than five thousand members.

Explanation:

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