Representation of corporations at meeting of companies and of creditors
(1)
A body corporatebody corporate , whether a companycompany 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 DirectorsBoard of Directors or other governing body, authorise such person as 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;
(b)
if it is a creditor, including a holder of debenturedebenture , of a company within the meaning of this Act, by resolution of its directors or other governing body, authorise 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.(Effective from 01-04-2014)
(2)
A person authorised 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 ballotpostal 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.
Notes, amendments & references (1)
(ii) any other body corporate (not being a company as defined in this Act), which the Central Government may, by notification, specify in this behalf