Resolutions requiring special notice
📚 Law Minded summary
Certain resolutions need special notice — for example removing an auditor or a director before their term ends.
Members holding at least one per cent of the voting power, or shares on which five lakh rupees is paid up, give the company notice of their intention, and the company then notifies the members.
Where, by any provision contained in this Act or in the articles of a company, special notice is required of any resolution, not ice of the intention to move such resolution shall be given to the company by such number of members holding not less than one per cent. of total voting power or holding shares on which such aggregate sum not exceeding five lakh rupees, as may be prescribed, has been paid -up and the company shall give its members notice of the resolution in such manner as may be prescribed.