Deemed participation in general meeting

Deemed participation in general meeting

(1) Notwithstanding anything contained elsewhere in this Act, if, except, as otherwise provided in the articles of association of a private company, any shareholder of the company makes communication contact with all shareholders through any communication means and takes part in communication contact with other shareholders in such a manner that the other shareholders can hear or read whatever is spoken by every shareholder, every shareholder who so takes part in such communication contact shall be deemed to have taken part in the general meeting along with other shareholders.

(2) Notwithstanding anything contained elsewhere in this Section, where any shareholder makes a complaint/petition accompanied by the prescribed fees, to the Office no later than three months after the holding of a general meeting, mentioning that he/she has not taken part in the general meeting, the Office shall inquire into the concerned company; and, in holding such inquiry, where the company fails to prove that the complainant shareholder has taken part in such meeting, the decision made by that meeting shall not be valid.

(3) A meeting of shareholders conducted pursuant to Sub-section (1) shall be deemed to have been conducted in the place where the chairperson of the meeting is present.

(4) The provisions of Sub-section (1), (2) or (3) applicable to the general meeting of a company shall also apply, mutatis mutandis, to the meeting of directors or a sub-committee of directors of the company

(5) After the completion of the general meeting pursuant to Subsection (1), the chairperson of the meeting shall prepare minutes of the proceedings and decisions conducted and taken in the meeting annually and authenticate the same.