Securities And Exchange Board Of India - Subsection
Section 41A(3) in Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
(3)The SR equity shares shall be treated as ordinary equity shares in terms of voting rights (i.e. one SR share shall only have one vote) in the following circumstances -i. appointment or removal of independent directors and/or auditor;ii. where a promoter is willingly transferring control to another entity;iii. related party transactions in terms of these regulations involving an SR shareholder;iv. voluntary winding up of the listed entity;v. changes to the Articles of Association or Memorandum of Association of the listed entity, except any change affecting the SR equity share;vi. initiation of a voluntary resolution process under the Insolvency Code;vii. utilization of funds for purposes other than business;viii. substantial value transaction based on materiality threshold as specified under these regulations;ix. passing of special resolution in respect of delisting or buy-back of shares; andx. other circumstances or subject matter as may be specified by the Board, from time to time.
