Section 119, The Companies Act, 2009

(1) Notwithstanding section 96, the articles may providethat preference shares issued after the commencement of this Act shall carry the right to attend general meetings and on a poll at the meeting to more than one vote per share in the following circumstances, but not otherwise:– (a) upon any resolution during such period as the preferential dividend or any part of it remains in arrears and unpaid, such period starting from a date not more than 12 months or such less period as the articles may provide, after the due date of the dividend; (b) upon any resolution which varies the rights attached to such shares; (c) upon any resolution to remove an auditor of the company or to appoint another person in place of such auditor; and (d) upon any resolution for the winding up of the company or during the winding up of the (2) Notwithstanding the provisions of section 96, any special resolution of a company increasing the number of shares of any class may validly resolve that any existing class of preference shares shall carry the right to such votes additional to one vote per share as shall be necessary in order to preserve the existing ratio which the votes exercisable by the holders of such preference shares at a general meeting of the company bear to the total votes exercisable at the meeting. (3) For the purposes of subsection (2), a dividend shall be deemed to be due on the date appointed in the articles for the payment of the dividend for any year or other period, or if no such date is appointed, upon the day immediately following the expiration of the year or other period, and whether or not such dividend shall have been earned or declared.