110. Postal ballot
(1) Notwithstanding anything contained in this Act, a company—
(a) shall, in respect of such items of business as the Central Government may, by
notification, declare to be transacted only by means of postal ballot; and
(b) may, in respect of any item of business, other than ordinary business and any
business in respect of which directors or auditors have a right to be heard at any
meeting, transact by means of postal ballot,
in such manner as may be prescribed, instead of transacting such business at a general
meeting.
(2) If a resolution is assented to by the requisite majority of the shareholders by means
of postal ballot, it shall be deemed to have been duly passed at a general meeting convened
in that behalf.