Section 113 of CA 2013 : Section 113: Representation Of Corporations At Meeting Of Companies And Of Creditors
CA 2013
JavaScript did not load properly
Some content might be missing or broken. Please try disabling content blockers or use a different browser like Chrome, Safari or Firefox.
Explanation using Example
Imagine XYZ Pvt. Ltd. is a company that holds shares in another company, ABC Ltd. XYZ Pvt. Ltd. wants to participate in the upcoming annual general meeting (AGM) of ABC Ltd. However, the CEO of XYZ Pvt. Ltd. is unable to attend the meeting in person. Under Section 113 of the Companies Act, 2013, XYZ Pvt. Ltd. can pass a resolution in its own board meeting to authorise the CFO to act as its representative at the AGM of ABC Ltd.
The CFO will then attend the AGM and on behalf of XYZ Pvt. Ltd., will have the right to vote and voice opinions just as if XYZ Pvt. Ltd. were an individual shareholder of ABC Ltd. This ensures that XYZ Pvt. Ltd.'s interests are represented and can influence the decisions made at the AGM.
Download Digital Bare Acts on mobile or tablet with "Kanoon Library" app
