Explain the rules that govern quorum and the exceptions thereof

Quorum is the minimum number of persons who must be present fro a company meeting to transact business.
• The number is prescribed by the articles failing which the provisions of the Companies Act apply where two members present in person form a quorum for a private company meeting while three members present in person constitute quorum for a public company meeting.
• It is the duty of the chairman of the meeting to satisfy himself that a quorum of members in present within 15 minutes of the appointed time.
• Persons not entitled to attend are not counted in the ascertainment of quorum.
• If a quorum of members is not present, a meeting summoned by directors stands adjourned to the following week, same day time and place unless the directors otherwise resolve. In all other cases the meeting stands dissolved.
• Quorum is only essential at the commencement of the meeting.
• A meeting with no quorum is a legal nullity.
However, one person constitutes quorum in certain circumstances for example:
• Directors meeting: in the case of a private company.
• Class meeting: shares of a particular class are held by one member.
• Creditors meeting: in the course of winding up.
• Adjourned meeting:
• Annual general meeting convened by or at the instance of the registrar of companies: sec 131 (3) of the Companies Act.
• Meeting convened pursuant to a court order: section 135 (1) of the Companies Act.

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