Newspaper group Independent News & Media has attacked as 'outrageous' criticisms of the company by businessman Denis O'Brien.
At the company's AGM in Belfast, Mr O'Brien's representatives questioned the independence of directors at the company.
Despite opposition from the representatives, all of the motions at the meeting were passed.
Following the meeting, Denis O'Brien issued a statement accusing the Independent board of 'failing abysmally' to respond to letters from him about issues of corporate governance.
He rejected suggestions by board member Brian Mulroney that the company had responded in a 'full and honest manner'.
Mr O'Brien's statement said the letters requested information on a range of issues, including expenses paid to chief executive Dr Tony O'Reilly.
It concluded that the AGM was attended by 'a small number of shareholders and a large number of Independent News & Media employees'.
Denis O'Brien owns 8% of Independent and sent three representatives to today's meeting.
One of them, Andrew Clearfield, said Independent was more like a family group than a public company. He said directors had close ties with chief executive Tony O'Reilly. It is the perfect kind of board for 1967 not 2007, he said.
But Independent came out with all guns blazing, with director Ivor Kenny describing criticisms from the O'Brien camp as 'tatty and baseless' and with no credibility. Chief executive Tony O'Reilly stressed after the meeting the company was run in a very transparent way.
His son Gavin, also a director, said the attacks on his father and the company were outrageous. But few people believe today will be the end of hostilities between Tony O'Reilly and Denis O'Brien.
Last month the company rejected suggestions that the changes passed today would require anyone building up a stake of more than 0.25% to inform the company.
INM said the notification threshold under the Companies Act was 5% and this would not change, but that the proposals would allow it to impose certain restrictions - including potential withholding of dividends and voting and attendance rights at general meetings - but only in 'very limited circumstances'.
Earlier at the meeting, the group said the 'double-digit earnings growth' it had previously pencilled in still stood. Dr Tony O'Reilly said early results for 2007 were in line with expectations. INM will issue a more detailed statement on 29 June.
Dr O'Reilly also told the meeting today that Britain's former Chancellor Kenneth Clarke is to join the company's board.
Independent shares closed down seven cent at €3.59 in Dublin.
