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of <h1>Understanding Voting Rights Under Section 47 of the Companies Act, 2013: Equity vs. Preference Shareholders Explained.</h1> Section 47 of the Companies Act, 2013, outlines the voting rights of company members. Members holding equity shares have voting rights on all company resolutions, with votes proportional to their equity shareholding. Members with preference shares can vote only on resolutions affecting their rights, company winding-up, or capital changes, with votes proportional to their preference shareholding. The voting rights ratio between equity and preference shareholders corresponds to their respective paid-up capital. If dividends on preference shares remain unpaid for two years or more, preference shareholders gain voting rights on all resolutions.
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