Articles of association
This query is : Resolved
21 July 2013
Whether retrospective amendment of Articles of association is possible?
21 July 2013
I did not get your query. Kindly explain..
22 July 2013
can articles of association be amended with retrospective effect?Memorandum of association cannot be amended with retrospective effect as per companies Act 1956.my question is what are the provisions regarding retrospective amendment of AOA.
22 July 2013
Hi
No majority of shareholders can, by altering the articles retrospectively, affect, to the prejudice of the non-consenting owners of shares, the right already existing under a contract, nor take away the right already accrued, e.g., after a transfer of shares is lodged, the company cannot have a right of lien so as to defeat the transfer [Mathrubhumi Printing & Publishing Co. Ltd. v Vardhaman Publishers Ltd. (1992) 73 Comp Cas 80 (Ker)].
No majority of shareholders can, by altering the articles retrospectively, affect, to the prejudice of the non-consenting owners of shares, the right already existing under a contract, nor take away the right already accrued, e.g., after a transfer of shares is lodged, the company cannot have a right of lien so as to defeat the transfer [Mathrubhumi Printing & Publishing Co. Ltd. v Vardhaman Publishers Ltd. (1992) 73 Comp Cas 80 (Ker)].
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Nomination of Bank for refund in itr 2
- TDS Challan Code
- Relief u/s Section 89
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- Entries in AIS regarding sale of units and shares
- Lease agreement and tax on sale
- Supply through E-commerce Operators
- STCG on ETF gold & silver
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
