Can a pvt. co. issue shares with no voting rights
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 July 2013
Can a Private Company Issue Equity Shares with no Voting Rights??
The Company was incorporated in 2012.
Thanks and Regards
The Company was incorporated in 2012.
Thanks and Regards
19 July 2013
Voting Rights on Shares:
Section 87 of the Companies Act, 1956 deals with voting rights and following are the provisions in this regard:—
(a) Voting rights of equity shareholders.—Every member of a company limited by shares and holding any equity share capital therein shall have a right to vote, in respect of such capital, on every resolution placed before the company. [Section 87(1)(a)]
(b) Voting rights on poll.—Voting right of every member on the poll shall be in proportion to his share of the paid up equity capital of the company. [Section 87(1)(b)]
However, section 87 is not applicable in case of an independent private company. [Section 90(2)]
Section 87 of the Companies Act, 1956 deals with voting rights and following are the provisions in this regard:—
(a) Voting rights of equity shareholders.—Every member of a company limited by shares and holding any equity share capital therein shall have a right to vote, in respect of such capital, on every resolution placed before the company. [Section 87(1)(a)]
(b) Voting rights on poll.—Voting right of every member on the poll shall be in proportion to his share of the paid up equity capital of the company. [Section 87(1)(b)]
However, section 87 is not applicable in case of an independent private company. [Section 90(2)]
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
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Reporting Income under Section 44ADA
- ITR selection for salaries and capital gain less than L
- ITR 1: Details for showing Exempt Income
- ITR 2 Short Term gain & Long term gain
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR returnFY25-26
- Share accounting-->fifo - capital gain - period as per fifo?
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- 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
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
