respondent in releasing the amount without seeking an affirmative vote of the petitioner nominees in terms of Article 30 amounts to complete breach ... fiduciary duties. In terms of the said article, affirmative vote of the nominees of the petitioners is required for any release/adjustment of any amount
without any outside interference. The various Articles also provide for two affirmative votes from each group on various important matters. Therefore, unless both the groups ... violation of Article 58 according to which there should be two affirmative votes from both Groups 'A' and 'B' for borrowing
circular resolution on a matter enumerated in Article 82 required the affirmative vote in writing of the CIFC Director ( Article 81.13 ); and (f) Article ... agenda of the meeting nor could they be passed without the affirmative vote in writing of the CIFC Director.
3. Further, it was pointed
shall be effective and valid unless it is adopted by the affirmative vote of at least one nominee of AIDQUA.
1.5 The articles of association ... Company provide for mandatory requirement of affirmative vote by the applicant in certain matters before the board of directors, which are classified as "AIDQUA
management of the company with certain matters to be decided by affirmative votes by b6th the groups. In this connection, he relied on the decision ... resolutions in respect of certain matters and Article 109 provides for affirmative vote from both the groups on various matters coming before the board. With
such up to the age of 65. It also provided for affirmative votes by both the groups on certain matters. Some of the terms
participation in the company and that the articles had provided for affirmative votes by both the sides and, therefore, the Company Law Board directed
present,
g. Certain decisions have to be taken with the affirmative vote of both the Groups.
h. Conditions have been fixed under which transfer
Company to the extent that the suspension of Veto/Affirmative Vote right contemplated in Articles 34A and 74A stand activated in favour
take a decision in any of the fundamental matters without the affirmative voting of the Indian Block. The Company cannot be run without the support
