law: Companies Act, 1956
  Sec 90    -    Savings 
  (1) Nothing in sections 85, 86, 88 and 89
  
  shall, in the case of any shares issued by a public company before the
  
  commencement of this Act, affect any voting rights attached to the shares save
  
  as otherwise provided in section 89, or any rights attached to the shares as to
  
  dividend, capital or otherwise.
  (2) Nothing in sections 85 to 89 shall apply
  
  to a private company, unless it is a subsidiary of a public company.
  (3) For the removal of doubts, it is hereby
  
  declared that on and from the commencement of the Companies (Amendment) Act,
  
  1974 (41 of 1974), the provisions of section 87 shall apply in relation to the
  
  voting rights attached to preference shares issued by a public company before
  
  the 1st day of April, 1956, as they apply to the preference shares issued by a
  
  public company after that date.
  Explanation.- For the purposes of this
  
  section, references to a public company shall be construed as including
  
  references to a private company which is a subsidiary of a public company.