The Essence of Section 47 of Companies Act: A Symphony of Votes

The section specifies that every member of the company that is holding the equity share capital of the company shall have the right to vote on every resolution that is placed before the company. It also stated the value of the votes that are cast by each member of the company. The value of the vote is proportional to their shareholding. This implies that the more shares you own, the more you will be heard in the key decision that has the potential to affect the company’s course.

The member of a company limited by shares and holding any preference share capital shall have the right to vote only on the following

resolutions that are placed before the company which directly affect the rights attached to his preference shares, and
any resolution for the winding up of the company,
for the repayment or reduction of its equity or preference share capital
His voting right on a poll shall be in proportion to his share in the paid-up preference share capital.

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