Section 47 in The Rajasthan Financial Corporation General Regulations, 2002
47. Quorum at General Meetings.
- (i) No business shall be transacted at any meeting of the shareholders, or a class of shareholders, whether it is the Annual General Meeting of any other general meeting, unless a quorum of at least five shareholders entitled to vote at such meeting in person or by proxy or by duly authorised representative is present at the commencement of such business.(ii)If within fifteen minutes from the time appointed for the meeting a quorum is not present, in the case of meeting called by the requisition of shareholders other than the State Government of the Small Industries Bank, the Corporation may dissolve the meeting.(iii)In other case the meeting shall stand adjourned to the same day in the next 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 representative shall form a quorum and may transact the business for which the meeting was called:Provided that no Annual General Meeting shall be adjourned to a date later than four months, after the 31st March and if adjournment of the meeting to the same day in the following week would have this effect, the Annual General Meeting shall not be adjourned but the business of the meeting shall be commenced either 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 those shareholders who are present in person or by proxy or by duly authorised representative at such time shall form a quorum.
