Describe the Quorum as per section 103 of the Companies Act, 2013.
CS Professional · Drafting, Pleadings and Appearances · PYQS · December 2022
Describe the Quorum as per section 103 of the Companies Act, 2013.
Answer & Explanation:
Section 103 of the Companies Act, 2013 provides the provisions relating to quorum of general meetings. The quorum as provided by said section is as under: a) in case of a public company: Five members personally present if the number of members as on the date of meeting is not more than one thousand. 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. 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. However, the company may by Article of Associations provide for a quorum larger than prescribed above for both type of companies. c) Quorum in case of adjourned meeting: If the quorum is not present within half-an-hour from the time appointed for holding a meeting of the company, the meeting stands adjourned to the same day in the next week at the same time and place, or to such other date and such other time and place as the Board may determine, or the meeting, if called by requisitionists under section 100 of the Companies Act, 2013, stands cancelled. And if quorum is not present within half-an-hour from the time appointed for holding adjourned meeting, the members present shall be the quorum.
Topics: Company Law
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