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of <h1>Understanding Voting Rights Under Section 87 of the Companies Act, 1956: Equity and Preference Shareholders Explained</h1> Section 87 of the Companies Act, 1956, outlines the voting rights of company members. Members holding equity share capital have voting rights on all resolutions, proportional to their share of the paid-up equity capital. Members with preference share capital can vote on resolutions affecting their rights or when dividends remain unpaid for specified periods. For cumulative preference shares, voting rights arise if dividends are unpaid for at least two years. For non-cumulative shares, rights arise if unpaid for two years before the meeting or three years within the last six years. Voting rights are proportional to the paid-up capital of preference shares.
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