Appellate Tribunal ought to have deleted the requirement of an
affirmative Vote in the hands of select Directors under Article 121
or at least ought ... have restricted the affirmative vote to matters
covered by Article 121A.
5
1.5 In addition to C.A.Nos. 13 and 14 of 2020, Tata
votes, each director having one vote, and in case of an equality of votes, the chairman shall have a second or casting vote. However ... inter alia a decision of the board of directors requires the affirmative vote of a nominee director of the petitioners. Besides, Article 159B provides that
plaintiff
bases its case is as under:-
"8. DECISIONS BY AFFIRMATIVE VOTE
8.1 Notwithstanding what is contained in Section 16 .12, the
Parties agree ... Company, the following decisions of the
Company shall be made by Affirmative Vote:
(a) any sale or other disposal of the whole or any
substantial
taken up by the Company in General Meeting without the affirmative vote of C.G.Holdings;
(iii) amend the Articles of Association of CEPL ... decision on the matters stated in clause 12.3 shall require an affirmative vote from ORE and no resolution in relation to the same shall
parties, in terms of which Mr. Aditya
Ahluwalia had an affirmative vote in matters relating to the company. It was
under the same JVA that ... Patel was decided. Despite Clause 6.2 of the JVA
giving an affirmative vote to Mr. Aditya Ahluwalia at the Board meeting
held on 31st October
budget,
provided decisions on governance of the Consortium entailed
an affirmative voting percentage of 71%. In other words, if
the IPMT could not decide upon ... agreement. That the parties were
wrangling over the percentage threshold of affirmative voting; that there
had been no closure on Article
budget,
provided decisions on governance of the Consortium entailed
an affirmative voting percentage of 71%. In other words, if
the IPMT could not decide upon ... agreement. That the parties were
wrangling over the percentage threshold of affirmative voting; that there
had been no closure on Article
budget,
provided decisions on governance of the Consortium entailed
an affirmative voting percentage of 71%. In other words, if
the IPMT could not decide upon ... agreement. That the parties were
wrangling over the percentage threshold of affirmative voting; that there
had been no closure on Article
rights of the Investor as
contained therein, the Investor has an affirmative
vote on certain matters as enumerated in the
Investment Agreements, whether such matters ... Investor Securities to
the Promoter and/or its nominees all the
affirmative voting rights of the Investor under the
=====================================================================.
FAO(OS)(Comm). No.102/2016
terms of Clauses 3.3.9 and 3.4.1 of the SHA, an affirmative
vote of the nominee director of the appellant in the Board of Directors ... further submits that the appellant has
waived the requirement of an affirmative vote by conduct under the SHA.
10. Matter was heard on 16th September
