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CS Executive · Company Law and Practice · Compromise, Arrangement and Amalgamations - Concepts

Kaveri Foods Ltd has received a Tribunal order to hold a meeting on a scheme. The notice of the meeting is sent to the members. Within what period may persons receiving the notice vote on the scheme in person, by proxy or by postal ballot, as stated in Section 230?

Voting on the scheme, in person, by proxy or by postal ballot, may be done within one month from the date of receipt of the notice. The thirty-day period in the Act applies to representations by authorities, not to voting.

  1. AWithin 7 days from the date of receipt of notice
  2. BWithin 21 days from the date of receipt of notice
  3. CWithin one month from the date of receipt of noticeCorrect
  4. DWithin 60 days from the date of receipt of notice

Explanation

Section 230(4) provides that the notice shall state that persons may vote themselves, through proxies or by postal ballot within one month from the date of receipt of the notice. The 30-day period in sub-section (5) relates to representations by regulators and authorities, not to voting.

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