clarification on Requisite majority

[kanika sharma]

Dear All,

 “Requisite majority” with regard to Special Resolution means votes cast in favour of the business is three times more than the votes cast against, with regard to ordinary resolution, votes cast in favour is more than the votes cast against. 

Can anyone clear me what does it interpretates ? 

Urgent in regard to Form - MGT 14.

PLEASE REVERT SOON !

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Thanks & Regards

 

 CS Kanika 

 JJRSIPL

 Gurgaon

[CS Simranjeet Singh]

hii requisite majority term is used in context of Board resolutions only.. OR and SR are used for general meetings.

 

 

With Best Regards?

Simranjeet Singh

Associate Company Secretary

"To know, is to know that you know nothing. that is the meaning of true knowledge."

 

   

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[kanika sharma]

BUT I HAVE GET THIS DEFINATION FROM The Companies (Passing of the Resolution by Postal Ballot) Rules, 2001 . THATS WHY ASKED . 

PLEASE GIVE ME ANY REFERENCE OR SECTION OF ANSWER YOU HAVE GIVEN.

I AM REALLY CONFUSED.

[Sakshi Vaid]

Hi Kanika,

If you are referring to MGT-14, then there you clearly have option to choose -OR or SR.

This will depend on the item you are conducting at the General meeting and the required majority required for passing the resolution.

Simranjeet is also right since in context of the Board meetings, MGT-14 gives option to choose requisite majority.

Trust this solves your query.Please feel free to ask further.

thanks

Sakshi Vaid

[CS Simranjeet Singh]

see it can't be in context of OR AND SR as they by their definition itself provides for a particular majority i.e simple in OR, 3/4th in SR.. so it is for BR only.. u can also read this for further clarity

http://www.companylawclub.co.uk/topics/types_of_resolutions.shtml

[Sakshi Vaid]

Agreed Simranjeet,

requisite means a thing that is necessary for the achievement of a specified end.

So in some cases it can be an ordinary majority and for other it can be special. For Board Resolution since there is nothing mentioned as a Special majority (unless specified in a particular arrangement, agreement,AOA) the BR is passed by more than 50% so in that case that is the requisite(required)  majority.

Learned members kindly expedite.

Kanika-Does it solve your confusion

Sakshi Vaid

[kanika sharma]

Yes, Thank you both for clearing.