Representation of corporations at meetings of companies and of creditors

Section 113 of the Companies Act 2013 states the representation of corporations at meetings of companies and of creditors. According to the section:

(1) A body corporate, whether a company within the meaning of this Act or not, may,—

(a) If it is a member of a company within the meaning of this Act, by resolution of its Board of Directors or other governing body, authorize such person as it thinks fit to act as its a representative at any meeting of the company, or at any meeting of any class of members of the company;

(b) If it is a creditor, including a holder of debentures, of a company within the meaning of this Act, by resolution of its directors or other governing body, authorize such person as it thinks fit to act as its representative at any meeting of any creditors of the company held in pursuance of this Act or of any rules made thereunder, or in pursuance of the provisions contained in any debenture or trust deed, as the case may be.

(2) A person authorized by resolution under sub-section (1) shall be entitled to exercise the same rights and powers, including the right to vote by proxy and by postal ballot, on behalf of the body corporate which he represents as that body could exercise if it were an individual member, creditor, or holder of debentures of the company.

FAQ’s

What is Section 113 of the Companies Act 2013?
Clause (a) of sub-section (1) of section 113 provides that where a body corporate is a member of a company, such body corporate may authorize any person it thinks fit to act as its representative at any meeting of the company or at any meeting of any class of members of the company.

Business Registration

NGO

COMPLIANCES

Change In Business

BIS & CDSCO

Government Registration

FSSAI

Environmental

Section 113 Of The Companies Act, 2013

Aesha Gandhi

Comment

Submit your Details to get an Instant All-inclusive Quote to your email and a FREE Expert consultation

Related Blog

Unity in team can make things easier and great.

The product development discuss for best.

The next big challenge for content maker.