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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Section 187B of Companies Act, 1956: Voting Rights for Shares Held in Trust Transferred to Public Trustee</h1> Section 187B of the Companies Act, 1956, outlines the exercise of voting rights for shares held in trust. When shares are held in trust, the trustee's voting rights are transferred to a public trustee, who may appoint a proxy to vote on their behalf. The public trustee can abstain from voting if it does not adversely affect the trust's objectives or beneficiaries' interests. Trustees can communicate their concerns to the public trustee, who may accept or reject them. The public trustee is protected from legal action for abstaining from voting. This section ceased to apply after the Companies (Amendment) Act, 2000.
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