Section 26 in Orissa State Financial Corporation General Regulations, 1957
26. Quorum at General Meeting.
- No business shall be transacted any meeting of the shareholders whether it is the Annual General Meeting, or any other General Meeting unless a quorum of six shareholders entitled to vote at such meeting in person or by proxy or by duly authorised representatives in present at the commencement of such business and if within fifteen minutes from the time appointed for the meeting a quorum is not present, the Chairman may dissolve the meeting or adjourn it to the same day in the following week at the same time and place, and if at such adjourned meeting a quorum is not present the shareholders who are present in person or by proxy or by duly authorised representatives at such time shall form a quorumProvided that no Annual General Meeting shall be adjourned to a date later than three months after 31st March and if adjournment of the meeting to the same day in the following week would have this effect, the General Meeting shall not be adjourned but the business of the meeting shall be commenced after as soon, within one hour from the time appointed for the meeting, as a quorum may be present or immediately after expiry of one hour from that time and these shareholder who are present in person or by proxy or by duly authorised representatives at such time shall form a quorum.
