Companies Act: Supreme Court Rejects 'Vote-Cast-First' Rule for Societies in AGMs, Holds Only Lawfully Authorised Person Can Vote: Supreme Court

Companies Act, 2013 – Supreme Court Says Voting Rights in AGM Must Be Exercised by Lawfully Authorised Persons, Rejects 'First Vote Cast' Rule Introduction The Supreme Court has ruled that when rival groups within a society dispute the authority to exercise voting rights attached to shares held in a company, the validity of the vote must be determined on the basis of lawful authority and not on who casts the…