law: Companies Act, 1956
  Sec 107    -     Rights
  
  of dissentient shareholders. 
  (1) If, in pursuance of any provision such as
  
  is referred to in section 106, the rights attached to any such class of shares
  
  are at any time varied, the holders of not less in the aggregate than ten per
  
  cent of the issued shares of that class, being persons who did not consent to
  
  or vote in favor of the resolution for the variation, may apply to the Court to
  
  have the variation cancelled, and where any such application is made, the
  
  variation shall not have effect unless and until it is confirmed by the Court.
  (2) An application under this section shall be
  
  made within twenty-one days after the date on which the consent was given or
  
  the resolution was passed, as the case may be, and may be made on behalf of the
  
  shareholders entitled to make the application by such one or more of their
  
  number as they may appoint in writing for the purpose.
  (3) On any such application, the Court, after
  
  hearing the applicant and any other persons who apply to the Court to be heard
  
  and appear to the Court to be interested in the application, may, if it is
  
  satisfied, having regard to all the circumstances of the case, that the
  
  variation would unfairly prejudice the shareholders of the class represented by
  
  the applicant, disallow the variation ; and shall, if not so satisfied, confirm
  
  the variation.
  (4) The decision of the Court on any such
  
  application shall be final.
  (5) The company shall, within thirty days
  
  after the service on the company of any order made on any such application,
  
  forward a copy of the order to the Registrar ; and if default is made in
  
  complying with this provision, the company, and every officer of the company
  
  who is in default, shall be punishable with fine which may extend to five
  
  hundred rupees.