Notice requirement for debenture-holder meetings: short notice allowed with prescribed consent; proxies, quorum and voting procedures apply. Sets procedural rules for debenture-holder meetings: minimum notice and conditions for shorter notice by high-value consent; required contents, service and annexed explanatory statement of material facts and interests; quorum of five debenture-holders unless articles provide otherwise with rules for adjournment; chairman elected by those present; show-of-hands voting with poll provisions and scrutineers; proxy appointment formalities, deposit and inspection rights; sanctions for defaults; and power for the Company Law Board to order and validate meetings where prescribed procedures are impracticable.
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Provisions expressly mentioned in the judgment/order text.
Notice requirement for debenture-holder meetings: short notice allowed with prescribed consent; proxies, quorum and voting procedures apply.
Sets procedural rules for debenture-holder meetings: minimum notice and conditions for shorter notice by high-value consent; required contents, service and annexed explanatory statement of material facts and interests; quorum of five debenture-holders unless articles provide otherwise with rules for adjournment; chairman elected by those present; show-of-hands voting with poll provisions and scrutineers; proxy appointment formalities, deposit and inspection rights; sanctions for defaults; and power for the Company Law Board to order and validate meetings where prescribed procedures are impracticable.
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