CA Inter P2 · Chapter 6 · Question 5 of 10
The paid-up share capital of Opal Ltd carrying voting rights is ₹60 lakh. Some members holding ₹5 lakh of that capital deposit a requisition for an extraordinary general meeting under section 100. The requisition is:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) Not valid, because they hold less than one-tenth of the paid-up voting capital
Explanation
Section 100(2)(a) requires the requisitionists of a company with share capital to hold at least one-tenth of the paid-up share capital that carries voting rights on the date of the requisition. One-tenth of ₹60 lakh is ₹6 lakh. A holding of ₹5 lakh is below this, so the Board is not bound to call the meeting.
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