https://www.taxtmi.com/caselaws?id=100170 Sections 106 and 107 of the Companies Act protect only rights attached to a particular class of shares. Ordinary equity and cumulative preference share rights include voting, dividends, face value preservation, transfer and related protective voting rights, but do not extend to governmental rights to nominate directors or appoint the chairman. Nomination provisions contained solely in the articles are contractual rights rather than class rights. They may therefore be amended or deleted through a special resolution under section 31, subject to statutory requirements. A petition seeking to restrain such amendments under sections 106 and 107 is not maintainable, and the requested relief is refused. en-us Wed, 20 Jan 1982 00:00:00 +0530 Tue, 31 Jan 2012 14:48:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100170 Sections 106 and 107 of the Companies Act protect only rights attached to a particular class of shares. Ordinary equity and cumulative preference share rights include voting, dividends, face value preservation, transfer and related protective voting rights, but do not extend to governmental rights to nominate directors or appoint the chairman. Nomination provisions contained solely in the articles are contractual rights rather than class rights. They may therefore be amended or deleted through a special resolution under section 31, subject to statutory requirements. A petition seeking to restrain such amendments under sections 106 and 107 is not maintainable, and the requested relief is refused. Case-Laws Companies Law Wed, 20 Jan 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100170