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Non-voting rights

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This query is : Resolved

Nidhi (Querist)
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24 March 2012 WHETHER NON-VOTING RIGHTS SHARES CAN BE ISSUED
?
WHETHER BORROWING POWER CLAUSE IS REQUIRED TO BE COMPULSORILY INSERTED IN AOA

WHETHER PROVISION RELATING TO APPOINTMENT OF CHAIRMAN IS REQUIRED TO BE INSERTED IN MOA

Ajay Mishra

Ajay Mishra (Expert)
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25 March 2012 Hi

(1) As per section 86 you will issue shares with voting or with different rights as to dividend, voting but you can not issue shares as non-voting.

(2) Yes, it is power Board and members for borrowing so it is required to mention such articles in AOA.

(3) The provision relation to appointment of chairman can you insert in AOA not in MOA.

Regards

Charu Srivastava

Charu Srivastava (Expert)
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26 March 2012 IF the shares are issued with differential rights..then it that case the voting rights can be more or less or NIL depending upon the conditions of the issue.

In other cases agree with the expert...

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