Q L Ltd. is a public limited company incorporated in Surat, Gujarat with 1200 members. On 10.12.2023 a general meeting was convened in which 14…
CA Intermediate · Corporate and Other Laws · PYQS · May 2024
Q L Ltd. is a public limited company incorporated in Surat, Gujarat with 1200 members. On 10.12.2023 a general meeting was convened in which 14 members were present in person. Mr. Mohan was acting as an authorized representative of two body corporates who are members of Q L Ltd. Shyam one of the important members was absent. The Chairman Mr. Rahi adjourned the meeting, taking plea of absence of Mr. Shyam, to same day and place next week. The members present at the meeting venue waiting to attend, opposed the decision submitting that the majority of them present now shall be unavailable next week. Referring to the provisions of Companies Act, 2013 elaborate: (i) Whether the requisite quorum to hold meeting as required in case of public limited companies is present in this case?
Suggested Answer and Working Notes:
According to section 103 of the Companies Act, 2013, in case of a public company, unless the articles of the company provide for a larger number, if the number of members is more than 1000 but upto 5000, then the quorum shall be 15 members personally present. As per Secretarial Standard- 2, one person can be an authorised representative of more than one body corporate. In such a case, he is treated as more than one Member present in person for the purpose of Quorum. Here, the term 'members personally present' refers to the members entitled to vote in respect of the items of business on the agenda of the meeting. (i) Q Ltd. is a public company, having 1200 members hence, the quorum shall be 15 members personally present. Mr. Mohan shall be treated as 2 members as he is the authorized representative of two body corporates. Hence, total 15 members were present at the meeting held on 10.12.2023. Thus, the requisite quorum was present. Assumption: It is assumed that these 14 persons are inclusive of Mr. Mohan.
Topics: Management & Administration
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