: (1) The quorum of the general meeting of a private company shall be as written in the regulations of such company.
(2) Unless a higher number is specified for a quorum in the company's regulations, the business of the meeting shall not be conducted unless at least three of the total shareholders are present in person or through their representatives representing more than fifty percent of the total number of shares allotted to the public company.
(3) If the meeting cannot be held because the quorum as per sub-section (2) is not complete, the meeting shall not be hindered if at least three shareholders representing twenty-five percent of the total number of shares allotted to the company are present in person or through their representatives, after giving at least seven days' notice.
(4) Notwithstanding anything contained elsewhere in this section, sub-section (2) or (3) for a company incorporated as mentioned in the restrictive phrase in sub-section (2) of section 3 or incorporated under sub-section (1) of section 173 Accordingly, it will not be mandatory for three shareholders to be present.