Question
The articles of association of E & C Builders Ltd. provided that five persons would form a quorum for general meetings of the company and
The articles of association of E & C Builders Ltd. provided that five persons would form a quorum for general meetings of the company and that no business shall be transacted unless quorum is formed. Seven shareholders attended a general meeting of the company, during the discussion on the proposed resolution, an argument ensued between the controlling and minority shareholders. The three minority shareholders walked out of the meeting leaving the four major shareholders who controlled 80% of the shares of the company. The controlling shareholders demanded a poll but the chairman of the meeting in supporting the minority shareholders refused the demand and adjourned the meeting for two weeks. Advise E & C Builders on the legality of the various actions
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