ARJUN PRASAD vs SHANTILAL SHANKARLAL SHAH AND OTHERS(AND CONNECTED APPEAL)

The Supreme Court held that under Section 153(2) of the Indian Companies Act, 1913, a company cannot be present 'in person' at a meeting, thus invalidating votes cast by a representative on behalf of creditor companies. The Court clarified that while a company is considered a 'person' under the General Clauses Act, 1897, it cannot physically attend meetings. Consequently, the votes were deemed invalid, and the requisite majority for the resolution was not achieved, leading to the dismissal of the appeal against the Patna High Court's decision.