Special Resolution
This query is : Resolved
18 August 2008
DEar Sir,
As per section 189(2)(c) of Companies Act, mentions that votes cast in favor of the special resolution shall not be less than three times the number of votes cast agasint it. Does it mean that any number above 25% of total share holder can block the special resoltion (e.g. 25.01). But normally in professional circle we always use 26%. Please advice.
Best Regards
Ranjit
As per section 189(2)(c) of Companies Act, mentions that votes cast in favor of the special resolution shall not be less than three times the number of votes cast agasint it. Does it mean that any number above 25% of total share holder can block the special resoltion (e.g. 25.01). But normally in professional circle we always use 26%. Please advice.
Best Regards
Ranjit
18 August 2008
I means anything above 25% can block special resolution. Therefore even 25.01% will block special resolution.
18 August 2008
Thank you very much. But why in professional circle we always say 26%??
19 August 2008
Its a generalisation of term and by general practice.
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