Termination of disproportionately excessive voting rights in existing companies.

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..... voting rights in excess of the voting rights attaching under sub-section (1) of section 87 to equity shares in respect of which the same amount of capital has been paid-up, the company shall, within a period of one year from the commencement of this Act, reduce the voting rights in respect of the shares first mentioned so as to bring them into conformity with the voting rights attached to such equ .....

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..... of any class of members to agree, it is not found possible to comply with the provisions of sub-section (1), the company shall, within one month of the expiry of the period of one year mentioned in that sub-section, apply to the Court for an order specifying the manner in which the provisions of that sub-section shall be complied with; and any order made by the Court in this behalf shall bind the .....

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..... rliament as soon as may be after it is made. ----------------------------- Notes:- [1] Substituted by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000. Prior to its substitution clause (a) read as under: "(a) any resolution relating to the appointment or reappointment of director or to any variation in the terms of an agreement between the company and a managing or .....

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