In one of the listed Company, there was a change of RTA, which was notified in the Director's report.
However as per section we should take prior approval of the shareholders, which was not taken.What will be the consequences?
Is there any privision for ratifying the same in the coming AGM of the Company?
DEAR SAKSHI,
PLEASE ELUCIDATE A BIT AS TO WHAT EXACTLY IS RTA- IS IT RIGHT TO ASSOCIATION- OR DO YU WANT TO SAY CHANGE IN MOA OR ARTICLES OF THE COMPANY. IF THERE IS A CHANGE IN AOA OR MOA , APPROVAL OF BR AT BM NEEDS TO BE PASSED AND APPROVAL OF SHAREHOLDERS NEEDS TO BE OBTAINED. COPY OF THE RESOLUTION NEEDS TO BE SENT TO THE ROC FOR APPROVAL.
REGARDS,
TANVEER
BR AT BM NEEDS TO BE PASSED
RTA is Registrar and Share Transfer Agent.
CAclubindia
