From what i read regarding issue of shares with differential voting rights as per Companies Act, 2013, I learnt that even pvt ltd companies can issue shares with DVRs after following certain provisions
However i wanted to get a few of my concerns resolved 1. Can a pvt ltd company issue shares with DVRs with superior rights as to voting like 1000 votes per share?
2. Can a pvt. ltd company issue shares with DVRs of face value Rs. 10 at 1200 per share (At the same value at which it is offering its ordinary share capital)
3. If it is allowed to offer shares with DVRs at above mentioned value of INR 1200. Will any tax liability arise in the hands of the company?
As per my understanding, provisions of Sec 56(2)(viib) of Companies Act will become eligible which states that aggregate consideration received in excess of FMV of the shares will be chargeable to income tax as Income from other sources in the hands of the company.