Shivam (student) (82 Points)
29 January 2014What does using votes differently mean??
For eg. 1. Chairman can use his casting vote differently 2. Proxies can use their votes differently .
PLS REPLY FRIENDSSSS
Vandana J Doshi
(Practising Company Secretary)
(12562 Points)
Replied 29 January 2014
Hi Shivam,
1... In case of tie in any resolution, the Chairman is granted an extra vote for determination of the result...this extra vote is generally known as casting vote.....
the Chairman has the alternative to vote differently in regard to his casting vot....
meaning if initially he had voted in favour of any resolution, and in case of a tie, while exercising the casting vote, if he wishes he can vote against the resolution despite the status of his initial voting.....
2...Proxies can vote only on poll....
in a poll if one holds say 500 shares, he can then put 250 shares in favour of the resolution and remaining against the resolution...meaning the total number should be same but there is no rule to either go ony for or against a resolution....
Hopefully your query is solved....if nt revert here....
Regards
Shivam
(student)
(82 Points)
Replied 29 January 2014
Thank You Vandana for a prompt and detailed reply. My doubt is all clear now. Thanks a bunch !!!
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