Quorum for wholly owned subsidiary company.

[venkateswara rao Manikonda]

Sir

A Private Limited company is a wholly owned subsidiary of a listed company.  The private company has 2(two) shareholders. 

As per proviso to Sec.2(71) of CA 2013 subsidiary of a public company shall be deemed to be public company for the purposes of CA 2013.

What is the quorum required for Annual general Meeting

 .

Is it two members personally present  Sec.103(1)(b) 

                              OR

      Five members personally present (Sec.2(71) read with Sec.103(a)  

-Regards

CS MV RAO

[Ganapati Ghatti]

When we have only two Shareholders / members, it is not practically possible to observe the provisions of Sec.2(71) read with Sec.103(a). 

Hence, the answer is Two members personally present will constitute quorum. 

Others views solicited. 

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Ganapati Ghatti

Mobile: +91-8970797164

[Ramaswami Mohan]

If, of the 2 members present - one member is a body corporate situated outside India, such a Baody Corporate Member and be represented and this will form adequate quorum , i suppose.

regards,

Mohan

CS. R.  Mohan
Mobile: 9908814677

[venkateswara rao Manikonda]

Sir

both the companies are incorporated in India

-Regards

CS MV RAO

[Ganapati Ghatti]

Both the companies have to authorise one of their representatives to attend the AGM. The persons so authorised by the two companies will be considered as valid for quorum.