Question
A person can act as proxy on behalf of members not
exceeding fifty and holding in the aggregate ___________________ of the company carrying voting rightsSolution
Section 105.Proxies: (1) Provided also that a person appointed as proxy shall act on behalf of such member or number of members not exceeding fifty and such number of shares as may be prescribed. Companies (Management & Administration) Rules,2014: Rule 19. Proxies- (2) A person can act as proxy on behalf of members not exceeding fifty and holding in the aggregate not more than ten percent of the total share capital of the company carrying voting rights: Provided that a member holding more than ten percent of the total share capital of the Company carrying voting rights may appoint a single person as proxy and such person shall not act as proxy for any other person or shareholder.
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