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Showing contexts for: absolute majority in Mrs Madhu Ashok Kapur And 3 Ors vs Mr Rana Kapoor And 8 Ors on 4 June, 2015Matching Fragments
62 of 153 NM 944-2013 suit 462-2013-yes bank-f3.doc or a majority at any given time, and the clause says that in order to exercise that right, the class must hold shares above a certain percentage. It may be no more than chance that the two families do not each command an absolute majority in Yes Bank's equity and are, on that reckoning, a 'minority'. The defined percentage is a threshold qualification for the exercise of the right; once the shareholding drops below that barometer, the right can no longer be invoked. The discussion about the ambit and purport of the Supreme Court's decision in Vodafone14 carries us no further in an analysis of the Article at hand. Certainly the right Article 110(b) speaks of is participative, but is carefully circumscribed; and while there is no such threshold qualification shareholding in Article 127A, for the purposes of defining the right, this is entirely immaterial.