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Member requisition rights: require notice and circulation of proposed resolutions subject to deposit, timelines, abuse exception and penalty. On a valid written requisition by members, a company must give notice of intended resolutions and circulate related statements if the requisition is signed, deposited at the registered office within the prescribed advance periods and accompanied by funds to meet expenses; a qualifying proviso covers annual general meetings called within the longer period. The Central Government may order non-circulation where rights are abused for defamatory publicity and may require requisitionists to pay costs. Non-compliance by the company or its officers attracts a monetary penalty.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
<h1>Member requisition rights: require notice and circulation of proposed resolutions subject to deposit, timelines, abuse exception and penalty.</h1> On a valid written requisition by members, a company must give notice of intended resolutions and circulate related statements if the requisition is signed, deposited at the registered office within the prescribed advance periods and accompanied by funds to meet expenses; a qualifying proviso covers annual general meetings called within the longer period. The Central Government may order non-circulation where rights are abused for defamatory publicity and may require requisitionists to pay costs. Non-compliance by the company or its officers attracts a monetary penalty.
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