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    With regard to resolution requiring special notice under section 115 of the Companies Act, 2013

    Posted By : mahimajain / Published on : 24-Mar-2023 04:34 AM / View : 237 / Comment : 1

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    Hello Professionals

    With regard to resolution requiring special notice under section 115 of the
    Companies Act, 2013, who can move such resolution- whether such number of members holding shares on which aggregate sum not exceeding five lakhs has been paid up or such number of members holding shares on which aggregate sum not less than five lakh rupees has been paid up?
    Read more on : section companies under notice resolution requiring special regard

    • Section 115 of the Companies Act, 2013 provides for special notice for certain types of resolutions which are to be passed at a general meeting of the company. The purpose of requiring special notice is to ensure that the shareholders are given adequate time to consider the proposed resolution and to make an informed decision.

      The types of resolutions that require special notice are specified under Section 115(1) of the Companies Act, 2013, and include the following:

      1. Removal of a director before the expiry of his/her term of office.
      2. Appointment of another person as a director in place of a director who has been removed before the expiry of his/her term.
      3. Appointment of an auditor in place of the existing auditor, or filling of a casual vacancy in the office of the auditor.

      According to Section 115(2) of the Companies Act, 2013, a special notice is required to be given to the company by the shareholders who hold not less than 1% of the total voting power, or who represent not less than 5% of the total voting power of the company.

      The special notice should be given at least 14 days before the meeting at which the resolution is to be moved, and it should be given to the company in writing, specifying the intention to move the resolution and the reasons for it.

      It is important for companies to follow the provisions of Section 115 of the Companies Act, 2013 to ensure that the rights of shareholders are protected and that the decisions taken at general meetings are in the best interest of the company.

      04-04-2023 / 09:34:46 AM
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