Amended and updated notes on section 113 of Companies Act 2013. Detail discussion on provisions and rules related to representation of corporations at meeting of companies and of creditors.
Chapter VII (Sections 88–122) of the Companies Act, 2013 (CA 2013) deals with the provisions related to management and administration. Section 113 of CA 2013 provides for representation of corporations at meeting of companies and of creditors.
Recently, we have discussed in detail section 112 (Representation of President and Governors in meetings) of CA 2013. Today, we learn the provisions of section 113 of Companies Act 2013 read with the Companies (Management and Administration) Rules, 2014.
Section 113 of the Companies Act, 2013 has been notified by the Ministry of Corporate Affairs (MCA) vide Notification No. S.O. 2754(E) issued dated 12.09.2013. This notification shall come into force from 12th September, 2013 i.e. the commencement date of section 113 is 12-09-2013.
| Name of Act | The Companies Act 2013 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Ministry of Corporate Affairs (MCA) |
| Number of Chapters | 29 |
| Number of Sections | 484 (470-43+57) |
| Number of Schedules | 7 |
| You are reading: | |
| Chapter No. | VII |
| Chapter Name | Management and Administration |
| Section No. | 113 |
| Section Name | Representation of corporations at meeting of companies and of creditors |
| Monthly Updated Edition | Company Law PDF |
Section 113 of Companies Act 2013: Representation of corporations at meeting of companies and of creditors
Section 113 shall come into force on 12th September, 2013 vide Notification No. S.O. 2754(E) dated 12.09.2013 except clause (b) of sub-section (1) which shall come into force on 1st April, 2014 vide Notification No. S.O. 902(E) issued dated 27.03.2014.
(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, authorise such person as it thinks fit to act as its 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, authorise 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 authorised 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.