Section 113 Of The Companies Act, 2013
Updated: Oct 7, 2022
Section 113 of the Companies Act 2013 states the representation of corporations at meetings of companies and of creditors. According to the section:
(1) A body corporate, whether a company within the meaning of this Act or not, may,—
(a) If it is a member of a company within the meaning of this Act, by resolution of its Board of Directors or other governing body, authorize such person as it thinks fit to act as its a representative at any meeting of the company, or at any meeting of any class of members of the company;
(b) If it is a creditor, including a holder of debentures, of a company within the meaning of this Act, by resolution of its directors or other governing body, authorize such person as it thinks fit to act as its representative at any meeting of any creditors of the company held in pursuance of this Act or of any rules made thereunder, or in pursuance of the provisions contained in any debenture or trust deed, as the case may be.
(2) A person authorized by resolution under sub-section (1) shall be entitled to exercise the same rights and powers, including the right to vote by proxy and by postal ballot, on behalf of the body corporate which he represents as that body could exercise if it were an individual member, creditor, or holder of debentures of the company.