Section 87 of the Companies Act
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 June 2010
In section 87 of the Companies Act its mentioned that in case of cumulative preference shares if preference dividend unpaid for last 2 yrs then such preference shareholders get a voting rights in the company as like equity holders i want to know if the company is in loss so they cant able to pay preference dividend then also this section applies that they are getting voting rights in the company
Ankur Garg
(Expert)
10 June 2010
Hi,
Section 87(2)(b) is silent about the nature or reason of default. So in your case also preference shareholders would be entitled to voting rights.
Views of other experts solicited.
Regards
Section 87(2)(b) is silent about the nature or reason of default. So in your case also preference shareholders would be entitled to voting rights.
Views of other experts solicited.
Regards
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