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48. Mr. Gandhi's challenge to the validity of form of representation is also untenable in law as it is not a proxy form, but a form of representation as contemplated under Section 187 of the Act. The relevant portion of the said Section reads as under :-

"187. Representation of corporations at meetings of companies and of creditors.-- A body corporate (whether a company within the meaning of this Act or not) may--
(a) if it is a member of a company within the meaning of his Act, by resolution of its Board of directors or other governing body, authorise such person as it thinks fit to act as its representative at any meeting of the company, or at any meeting of any class of members of the company;..........."