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CA Intermediate · Corporate and Other Laws · Management & Administration

Meera, a member of Delta Infra Ltd holding 1,000 shares, wants to appoint a proxy for the annual general meeting. Which statement is correct under the Companies Act, 2013 and the rules for a company having a share capital?

A proxy may vote only on a poll and not on a show of hands, and has no right to speak. The proxy instrument must reach the company at least 48 hours before the meeting, so the 48-hour poll-voting statement is correct.

  1. AThe proxy may vote on a poll and the instrument must be deposited with the company at least 48 hours before the meetingCorrect
  2. BA proxy may vote on a show of hands as well as a poll
  3. CA proxy form must be deposited at least 7 days before the meeting
  4. DA proxy is entitled to speak at the meeting as a matter of right

Explanation

A proxy can vote only on a poll, not on a show of hands, and has no right to speak at the meeting. The proxy instrument is valid only if deposited with the company not less than 48 hours before the meeting. The 7-day and show of hands options are therefore wrong.

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