Issue of equity shares with differential rights

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Querist : Anonymous

Querist : Anonymous (Querist)

16 January 2010 Please clarify me that whether a newly incorporated public limited company can issue equity shares with differential rights as the comany is not complying certain conditions of Companies (Issue of Share Capital with Differential Voting Rights) Rules, 2001 like requirement of distributable profits in terms of sec 205 for three financial years

Ankur Garg

Ankur Garg (Expert)
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18 January 2010 Hi,

Compliance with Rules, 2001 is essential to issue shares with differential rights.

So in your case it would be not possible.

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