Friends
I invite your attention to section 181 of Act 1956. It stipulates that AOA may provide no member shall exercise any voting right in respect of anys shares registered in his name on which any calls or other sums presently payable by him is not paid.
There is a situation where a Director cum shareholder resigned from Board after acting against the interests of the Company and the company has filed a damage suit.
Can the Company use section 181 to prevent him from voting in the AGM/EGM.
Regards,
CAclubindia
