Quorum for meetings
📚 Law Minded summary
Quorum is the minimum attendance a meeting needs to be valid.
For a public company it rises with size: five members present in person where there are up to a thousand members, fifteen up to five thousand, and thirty beyond that. For a private company, two members present.
If quorum is not there within half an hour, a meeting called by requisition is cancelled; any other meeting stands adjourned to the same day next week. If quorum fails again, those present are the quorum.
(1) Unless the articles of the company provide for a larger number,— (a) in case of a public company,—
(i) five members personally present if the number of members as on the date of meeting is not more than one thousand;
(ii) fifteen members personally present if the number of members as on the date of meeting is more than one thousand but up to five thousand;
(iii) thirty members personally present if the number of members as on the date of the meeting exceeds five thousand;
(b) in the case of a private company, two members personally present, shall be the quorum for a meeting of the company.
(2) If the quorum is not present within half-an-hour from the time appointed for holding a meeting of the company—
(a) the meeting shall stand adjourned to the same day in the next week at the same time and place, or to such other date and such other time and place as the Board may determine; or (b) the meeting, if called by requisitionists under section 100, shall stand cancelled: Provided that in case of an adjourned meeting or of a change of day, time or place of meeting under clause (a), the company shall give not less than three days notice to the members either individually or by publishing an advertisement in the newspapers (one in English and one in vernacular language) which is in circulation at the place where the registered office of the company is situated.
(3) If at the adjourned meeting also, a quorum is not present within half-an-hour from the time appointed for holding meeting, the members present shall be the quorum.