Section 103 of CA 2013 : Section 103: Quorum For Meetings

Explanation using Example

Imagine that XYZ Pvt. Ltd., a private company, schedules an Annual General Meeting (AGM) for April 20th. According to Section 103 of The Companies Act, 2013, they need a minimum of two members to be personally present to proceed with the meeting. On the day of the AGM, only one member shows up by the scheduled start time.

Following the Act, since the quorum is not met within half an hour of the meeting time, the AGM must be adjourned to the same day the next week, at the same time and place. XYZ Pvt. Ltd. needs to notify the members of the adjournment, ensuring they provide at least three days of notice.

If, at the adjourned meeting, the quorum is still not met after waiting for half an hour, the members who are present will constitute the quorum, and the meeting can proceed with the business agenda.