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86. (a) On show of hands every holder of Equity shares entitled to vote and present in person or by proxy shall have one vote and upon a poll every holder of equity shares entitled to vote and present in person or by proxy shall have one vote for every Equity share held by him."

A person ceases to be a member by transferring his share to another person, by transmission of his share by operation of law, by forefeiture of share, by death, or by any other reason known to law. In the case before us therefore three points arise for consideration at this stage.

We do not also find any substance in the contention of the appellant based on section 137 of the Act. Section 137 of the Act provides that if any person obtains an order for the appointment of a Receiver of, or of a person to manage, the property of a company, or if any person appoints such Receiver under any powers contained in any instrument he shall, within thirty days from the date of the passing of the order or of the making of the appointment under the said powers, give notice of the fact to the Registrar, and the Registrar shall, on payment of the prescribed fee, enter the fact in the register of charges maintained under section 130 of the Act. It is not clear in this case whether any entry had been made in the register of charges of the order Or appointment of Receiver in this case. Even granting that such an entry had been made, it would not have the effect of taking away the right of the Cotton Mills Company to exercise the right to vote in respect of the shares in question. We do not also find any substance in the argument based on sections 153B, 187B and 187C of the Act. Section 153 of the Act states that no notice of any trust, express, implied or constructive, shall be entered in the register of members or of debenture holders. Section 153B of the Act requires that notwithstanding anything contained in section 153, well any shares in, or debentures of, a company are held in trust by any person, the trustee shall, make a declaration to the public trustee. Section 187B of the Act provides that save as otherwise provided in section 153B but notwithstanding anything contained in any other provisions of the Act or any other law or any contract, memorandum or articles, where any shares in a company are held in trust by a person as trustee, the rights and powers (including the right to vote by proxy) exercisable at any matinee of' the company or at any meeting of any class of members of the company by the trustee as a member of the company cease to be exercisable by the trustee as such member and become exercisable l-l by the public trustee. Section 187C of the Act makes it incumbent upon a person whose name is entered in the Register of Members of a company but who does not hold the beneficial interest in the share in question in such form as may be prescribed specifying the name and other particulars of the person who holds the beneficial interest in such share. The Companies (Declaration of Beneficial Interest in Shares) Rules, 1975 are made in this connection. it is obvious from the foregoing that none of the provisions referred to above has any bearing on the question before us.