Document Fragment View
Fragment Information
Showing contexts for: proxy FORMS in Kec International Ltd. vs Kamani Employees Union And Ors. on 5 August, 1999Matching Fragments
53. According to Shri Grover there is a clear non-compliance with the mandatory provisions to secure requisite three-fourths support to the scheme of amalgamation as contemplated under Section 391(2) of the Companies Act. Shri Grover also pointed out that as per rule 72 of the Companies (Court) Rules, the chairman's report must mention the number of persons who had attended the meeting. This is amply clear from Form 39 which contemplates a report wherein the number of persons who had, either in person or by proxy or by the authorised representatives, attended the meeting together with the total value of their shares which has to be specifically shown. He has also pointed out that names of the persons as per Form 40 which requires mentioning the number of persons who had attended the meeting either in person or by proxy or by their authorised representative together with their total value of shares must be disclosed.
55. Learned counsel also brought to my notice that the chairman's report is not in accordance with Form 39 wherein the number of persons who were proxy together with their total value of the shares ought to have been mentioned, which is not done. Learned counsel also brought to my notice that as per Rule 79, the petition also should be filed in accordance therewith mentioning clearly the number of persons who had attended in person or by proxy or by authorised representative together with their total value of the shares. According to learned counsel, the affidavits filed in this court do not disclose all the details as contemplated under the said rules as well as the said form. According to learned counsel for the opponents, Shri T.N. Balasubramaniam's affidavit dated July 8, 1999, filed after the arguments had commenced and submissions were being made tries to cover up the actual position. According to learned counsel for the opponents the total ballot slips were 1087. Actual number of voter's list there were only 309, whereas there are no details furnished as to what happened to the 788 balance persons.