Companies Act Section 115 — Resolutions requiring special notice

CHAPTER VII MANAGEMENT AND ADMINISTRATION

Commercial / Corporate

Summary

This section applies when the Companies Act or a company’s own articles require special notice for a resolution. In such a case, the members who want to move the resolution must first give the company notice of their intention to do so. This notice must come from members who either hold at least one per cent of the total voting power of the company, or who hold shares on which a total amount of up to five lakh rupees (as may be prescribed) has been paid up.

After receiving this notice from the members, the company is then required to give notice of the resolution to all its members, in the manner that may be prescribed.

Official Text

Where, by any provision contained in this Act or in the articles of a company, special notice is required of any resolution, notice of the intention to move such resolution shall be given to the company by such number of members holding not less than one per cent. of total voting power or holding shares on which such aggregate sum not exceeding five lakh rupees, as may be prescribed, has been paid-up and the company shall give its members notice of the resolution in such manner as may be prescribed.