proxy

Corporate & Other Laws

A,B and C ltd are share holders in X ltd holding 2% ,8% AND 90%. Can Mr B can be appointed as a proxy on behalf of C ltd ??. Please explain with Relevent provision..

Sairam Reddy

CA Final

★ 10K+

02-Dec-22 09:43

498

Answers (3)

Mr. B can be appointed as Proxy for C Ltd. (Section 103 read with section 105) In that case, he will be counted as 2 entities when counting quorum.

CA YOGITA HARJANI

Faculty

07-Dec-22 12:57

CA YOGITA HARJANI Faculty

Mr. B can be appointed as Proxy for C Ltd. (Section 103 read with section 105) In that case, he will be counted as 2 entities when counting quorum.

Mam what if B holds more than 10% and C Ltd holds more than 60%

Thread Starter

Sairam Reddy

CA Final

★ 10K+

07-Dec-22 14:48

Thread Starter

Sairam Reddy

Mam what if B holds more than 10% and C Ltd holds more than 60%

Yes. It's up to C ltd. to appoint any person as proxy.

CA YOGITA HARJANI

Faculty

07-Dec-22 21:27

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