Normally quorum of public and private limitec company 5 and 2 as per Companies Act, 1956 but in companies bill it is very interesting and quorum is based on no of shareholders in the company. It is good improvement and it will lead to shareholder democracy The clause 103 sub clause 1 of companies bill provides the same
(a) in case of a public company,—
(i) five members personally present if the number of members as on the
date of meeting is not more than one thousand;
(ii) fifteen members personally present if the number of members as on the
date of meeting is more than one thousand but up to five thousand;
(iii) thirty members personally present if the number of members as on the
date of the meeting exceeds five thousand;
(b) in the case of a private company, two members personally present, shall be
the quorum for a meeting of the company
(a) in case of a public company,—
(i) five members personally present if the number of members as on the
date of meeting is not more than one thousand;
(ii) fifteen members personally present if the number of members as on the
date of meeting is more than one thousand but up to five thousand;
(iii) thirty members personally present if the number of members as on the
date of the meeting exceeds five thousand;
(b) in the case of a private company, two members personally present, shall be
the quorum for a meeting of the company
No comments:
Post a Comment