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In a general meeting of shareholders, a special resolution was put to vote, 90 voted in favour, 20 voted against and 40 abstained. Has the resolution been validly passed? Explain the statutory provisions with regard to calling and holding of a valid general meeting.?
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In a general meeting of shareholders, a special resolution was put to ...
Valid Passing of Special Resolution
The special resolution has been validly passed as it has received the required majority of votes in favour as per the Companies Act, 2013.
Statutory Provisions for Calling and Holding of a Valid General Meeting
1. Notice of Meeting: A notice of at least 21 days is required to be given to all members entitled to vote at the meeting. The notice must specify the date, time, and place of the meeting and the business to be transacted.
2. Quorum: A quorum is the minimum number of members required to be present at the meeting for the meeting to be valid. For a public company, the quorum is five members personally present for an AGM and two members personally present for any other general meeting.
3. Chairperson: The chairperson of the board or, in their absence, any director elected by the members present shall preside over the meeting.
4. Voting: Every member of the company has one vote, and voting can be done either in person or by proxy. The method of voting may be decided by the chairperson or by the members present.
5. Resolutions: Resolutions are passed by a simple majority, except for special resolutions, which require a three-fourths majority.
Conclusion
A special resolution requires a three-fourths majority to be passed. In this case, 90 members voted in favour, 20 voted against, and 40 abstained, which means the resolution has been validly passed. The Companies Act, 2013 lays down the statutory provisions for calling and holding of a valid general meeting, including notice of meeting, quorum, chairperson, voting, and resolutions.
The special resolution has been validly passed as it has received the required majority of votes in favour as per the Companies Act, 2013.
Statutory Provisions for Calling and Holding of a Valid General Meeting
1. Notice of Meeting: A notice of at least 21 days is required to be given to all members entitled to vote at the meeting. The notice must specify the date, time, and place of the meeting and the business to be transacted.
2. Quorum: A quorum is the minimum number of members required to be present at the meeting for the meeting to be valid. For a public company, the quorum is five members personally present for an AGM and two members personally present for any other general meeting.
3. Chairperson: The chairperson of the board or, in their absence, any director elected by the members present shall preside over the meeting.
4. Voting: Every member of the company has one vote, and voting can be done either in person or by proxy. The method of voting may be decided by the chairperson or by the members present.
5. Resolutions: Resolutions are passed by a simple majority, except for special resolutions, which require a three-fourths majority.
Conclusion
A special resolution requires a three-fourths majority to be passed. In this case, 90 members voted in favour, 20 voted against, and 40 abstained, which means the resolution has been validly passed. The Companies Act, 2013 lays down the statutory provisions for calling and holding of a valid general meeting, including notice of meeting, quorum, chairperson, voting, and resolutions.
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In a general meeting of shareholders, a special resolution was put to vote, 90 voted in favour, 20 voted against and 40 abstained. Has the resolution been validly passed? Explain the statutory provisions with regard to calling and holding of a valid general meeting.?
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In a general meeting of shareholders, a special resolution was put to vote, 90 voted in favour, 20 voted against and 40 abstained. Has the resolution been validly passed? Explain the statutory provisions with regard to calling and holding of a valid general meeting.? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about In a general meeting of shareholders, a special resolution was put to vote, 90 voted in favour, 20 voted against and 40 abstained. Has the resolution been validly passed? Explain the statutory provisions with regard to calling and holding of a valid general meeting.? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In a general meeting of shareholders, a special resolution was put to vote, 90 voted in favour, 20 voted against and 40 abstained. Has the resolution been validly passed? Explain the statutory provisions with regard to calling and holding of a valid general meeting.?.
In a general meeting of shareholders, a special resolution was put to vote, 90 voted in favour, 20 voted against and 40 abstained. Has the resolution been validly passed? Explain the statutory provisions with regard to calling and holding of a valid general meeting.? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about In a general meeting of shareholders, a special resolution was put to vote, 90 voted in favour, 20 voted against and 40 abstained. Has the resolution been validly passed? Explain the statutory provisions with regard to calling and holding of a valid general meeting.? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In a general meeting of shareholders, a special resolution was put to vote, 90 voted in favour, 20 voted against and 40 abstained. Has the resolution been validly passed? Explain the statutory provisions with regard to calling and holding of a valid general meeting.?.
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