Rules and Regulations of India

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Section 226 – THE COMPANIES (COURT) RULES, 1959

226. Holder of proxy not to vote on matter in which he is financially interested

No person acting either under a general or special proxy shall vote in favor of any resolution which would directly or indirectly place himself, his partner or employer in a position to receive any remuneration out of the assets of the company otherwise than as a creditor rateably with the other creditors of the company.

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