Companies Act

Querist : Anonymous (Querist) 21 November 2010 This query is : Resolved
Dear sir

My query is regarding AGM meeting

A private Ltd company having a 2 share holder. Private company holds 99% of the share and 1% is held by the director of the private company holding 99%.

Q1. Is the director who attends the AGM can represent dual capacity (both as share holder & nominee of the private company)

Q2. If the director represent AGM as a nominee capacity & the director who appoints nominee for his holding and two people attending the meeting. Is it a valid meeting & is the company considered Quarom is available, since both are nominees no member is attended the meeting.

Kindly clarify

Thanks
Kalyan

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R.Ramachandran (Expert) 21 November 2010
There is nothing wrong in the Quorum. In fact the Director who holds 1% share need not nominate anybody else. He himself can represent his 1% share while representing the Private Company for its 99% share.

Advocate. Arunagiri (Expert) 21 November 2010
There is no two nominees. Only one nominee and the shareholder himself are attending the meeting. The shareholder himself can be a nominee of another shareholder. There is nothing wrong in it. He will sign for his own share and sign on behalf of the company. On record two persons attended the meeting.