03/09/2021 Accounting - Finance
As per section 114(1) of Companies Act 2013, A resolution shall be an ordinary resolution if the votes cast in favour of the resolution exceed the votes cast against it
As per section 114(1) of Companies Act 2013, A resolution shall be an ordinary resolution if the notice required under this Act has been duly given and it is required to be passed by the votes cast, whether on a show of hands, or electronically or on a poll, as the case may be, in favor of the resolution, including the casting vote, if any, of the Chairman, by members who, being entitled so to do, vote in person, or where proxies are allowed, by proxy or by postal ballot, exceed the votes, if any, cast against the resolution by members, so entitled and voting.
In simple words, the votes cast in favour of the resolution must exceed the votes cast against it. The consent of at least 51% of the members must be obtained to pass a valid ordinary resolution.
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