Voting rights: equity shareholders vote on all resolutions; preference shareholders vote only on matters affecting their rights or capital changes. Equity shareholders have a right to vote on every resolution, with poll votes proportional to paid-up equity capital. Preference shareholders may vote only on resolutions directly affecting their rights and on winding up or capital repayment/reduction, with poll votes proportional to paid-up preference capital; relative voting strength follows the ratio of paid-up equity to paid-up preference capital, and a class of preference shares failing to receive dividends for an extended uninterrupted period gains a right to vote on all resolutions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Voting rights: equity shareholders vote on all resolutions; preference shareholders vote only on matters affecting their rights or capital changes.
Equity shareholders have a right to vote on every resolution, with poll votes proportional to paid-up equity capital. Preference shareholders may vote only on resolutions directly affecting their rights and on winding up or capital repayment/reduction, with poll votes proportional to paid-up preference capital; relative voting strength follows the ratio of paid-up equity to paid-up preference capital, and a class of preference shares failing to receive dividends for an extended uninterrupted period gains a right to vote on all resolutions.
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