Generally, Veto powers denotes exercising authority of passing / not passing a resolution at the General Meeting or Board Meeting of a Company.
The Articles of the Association of a Public Company generally provides for casting vote in favour of the Chairman of the Company to exercise such vote (in addition to his own vote) in case of tie over a passing of resolution.
Such a casting vote (additional vote) provision objected by all foregin collaboration partners in their agreements. However in India this casting vote is given to the Chairman of the Company.
Hope this clarifies,