New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    What happens if the quorum is not present within

    half-an-hour from the time appointed for holding a company meeting that was called by requisitionists under section 100?
    A The meeting shall be adjourned to the same day next week Correct Answer Incorrect Answer
    B The meeting shall proceed without the quorum Correct Answer Incorrect Answer
    C The meeting shall be automatically postponed Correct Answer Incorrect Answer
    D The meeting shall stand cancelled Correct Answer Incorrect Answer
    E The meeting shall be rescheduled by the board of directors Correct Answer Incorrect Answer

    Solution

    Section 103.Quorum for meetings: (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: 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.

    Practice Next