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InterviewSolution
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In connection with company meetings, write short notes on : (i) Proxy (ii) Voting by Poll. |
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Answer» Proxy means substitute. Section 176 of the Companies Act provides that any member entitled to attend and vote a meeting of the company is entitled to appoint another person(whether a member or not) to attend a meeting and to vote instead of himself. A proxy so appointed shall not make any request to speak at the meeting. If the members are not satisfied with the result of voting by show of hands, they may demand voting by poll. On a pool, every member is entitled to caste votes in proportion to the number of shares held by him. A proxy can also caste a vote. A proxy is free to distribute his votes in the manner he likes. Voting by poll may be demanded by: • the chairman • any five members present in person or by proxy and having the right to vote on the motion in question in case of a public limited company, or • one member in case less than seven persons are present, if more than 7 members are present in case of a private limited company |
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