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of <h1>Key Procedures for Debenture-Holder Meetings: Notice, Quorum, Voting, and Proxies Under Sections 171-186 of the Act.</h1> Sections 171-186 of the Act outline the procedures for meetings of debenture-holders in a company. Meetings require a 21-day written notice, unless 95% of debenture-holders agree to a shorter notice. Notices must specify meeting details and be served to debenture-holders, successors, and auditors. Accidental omission of notice does not invalidate proceedings. An explanatory statement must accompany notices detailing business items and interests. A quorum of five debenture-holders is needed, and meetings can elect a chairman. Proxies are allowed, with specific rules for their appointment and voting. Voting is initially by show of hands, with provisions for demanding a poll. The Company Law Board can order meetings if impractical to call otherwise.
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