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)]
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