banner_ad

Voting power in agm after transfer of stocks in fraction

This query is : Resolved 
Profile Image

Profile Image

(Querist)
29 July 2011 I have 100 equity shares in Tata Tea @ Rs.10 each.IT has been converted into stock. I surrendered all the shares to the company and received a single stock certificate of Rs.1000. Now i am going to transfer worth Rs.230 stock to my friend.
I had 100 votes (1 vote for 1 share) in AGM.
Now what will be my voting power and how my vote will be considered in Annual general meeting?
Profile Image

Ankit Patniya

Profile Image

Ankit Patniya (Expert)
29 July 2011 Dear Samir,

As you says that you have transfer shares in to stock it means you have investmnet of stock only ands not share. Am i right?
If yes than as per company law section 96 says that there is ceasation of all the rights attached to share when it converted in to stock, so in your case there is no question of vaoting rights because it lapes when you convert shares in to stock.

Thanks
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details