163. Option to adopt principle of proportional representation for appointment of directors.—
Notwithstanding anything contained in this Act, the articles of a company may provide for the
appointment of not less than two-thirds of the total number of the directors of a company in accordance
with the principle of proportional representation, whether by the single transferable vote or by a system of
cumulative voting or otherwise and such appointments may be made once in every three years and casual
vacancies of such directors shall be filled as provided in sub-section (4) of section 161.
