Proxy ‑ Whether date of meeting should be filled in by shareholders in the form of instrument appointing proxy so as to obviate any possible misuse - Companies Law - Letter : No. 2/52/58‑PR,

Circular Letter : No. 2/52/58 ‑ PR, dated 25 ‑ 10 ‑ 1958. Subject:- Proxy ‑ Whether date of meeting should be filled in by shareholders in the form of instrument appointing proxy so as to obviate any possible misuse Section 176(1) authorises every member of a company entitled to attend and vote at a meeting of the company to appoint another person as his Proxy to attend and vote in the meeting on his behalf. The form of proxy prescribed by the companies in their articles of association, which may be as near as possible to the form prescribed in Schedule IX, requires, inter alia, the date of the meeting (with reference to which the said instrument is executed) to be mentioned. It has been alleged that, in some cases, the shareholders while appointing the proxies have failed to fill in the date of the meeting and that this has enabled certain unscrupulous company managements to make use of such forms even at meetings subsequent to the ones for which the said instruments of proxies were actually intended and executed. The department would, therefore, emphasise the imperative need to fill in the date of the meetings for which the proxies are executed so as to obviate any possible misuse of the proxy forms, as alleged in some quarters.