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Section 103

Quorum for meetings

(1)
Unless the articles of the company provide for a larger number,—
(a)
in case of a public company ,—
(i)
five members personally present if the number of members as on the date of meeting is not more than one thousand;
(ii)
fifteen members personally present if the number of members as on the date of meeting is more than one thousand but up to five thousand;
(iii)
thirty members personally present if the number of members as on the date of the meeting exceeds five thousand;
(b)
in the case of a private company , two members personally present, shall be the quorum for a meeting of the company.
(2)
If the quorum is not present within half-an-hour from the time appointed for holding a meeting of the company—
(a)
the meeting shall stand adjourned to the same day in the next week at the same time and place, or to such other date and such other time and place as the Board may determine; or
(b)
the meeting, if called by requisitionists under section 100, shall stand cancelled:
Proviso

Provided that in case of an adjourned meeting or of a change of day, time or place of meeting under clause ( a ), the company shall give not less than three days notice to the members either individually or by publishing an advertisement in the newspapers (one in English and one in vernacular language) which is in circulation at the place where the registered office of the company is situated.

(3)
If at the adjourned meeting also, a quorum is not present within half-an-hour from the time appointed for holding meeting, the members present shall be the quorum.
Notes, amendments & references (4)

This section shall apply to a private company and specified IFSC Public Companies unless otherwise specified in respective sections or the articles of the Company provide otherwise Notification no. G.S.R. 464(E) dated 5th June 2015 and GSR 08 (E) dated 4th January, 2017.

(The exceptions, modifications and adaptations provided above shall be applicable only to those Private Companies which has not committed a default in filing its financial statements under section 137 of the said act or annual return under section 92 of the said act with the registrar, vide notification dated 13th June 2017)

To view the notification, Click Here

Articles means the articles of association of a company as originally framed or as altered from time to time or applied in pursuance of any previous company law or of this Act