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Voting rights on partly paid up shares????????

Mayuri Lal (officer CS) (748 Points)

04 June 2011

Dear MEmbers.

What will be the voting rights on partly paid up shares.

regards,

Mayuri lal

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14 Replies

Arvind Sharma (ACA) (1432 Points)
Replied 04 June 2011

every member has right to vote.., and thus, if shares are partly paid, the member still has right to vote... :)

Rajnikant Vadigoppula (CA, CS And CMA Final) (919 Points)
Replied 04 June 2011

there is no differential rights on the basis of paid up value

CS,CA F,Numrologi TusharSampat (CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert) (85930 Points)
Replied 04 June 2011

Originally posted by : Rajnikant Vadigoppula
	there is no differential rights on the basis of paid up value

AGREED.

Mayuri Lal (officer CS) (748 Points)
Replied 04 June 2011

i got confused thats y i posted this query

bkoz fully paid up share will carry vote i.e 1 vote and for partly paid up share also it will like 1 vote.

which section it is written????????

mitali shukla (company secretary) (23 Points)
Replied 04 June 2011

section 87 of the companies Act, 1956 reads about the voting rights. Go through the commentry of this section u will find it.

CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
Replied 04 June 2011

all equity shares have equal rights according to there no.

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17848 Points)
Replied 04 June 2011

Every Member of the Company i.e. whose name is registered on the Register of Member shall be entitle to vote.

However, in case of voting on poll, the voting rights are to be in proportion to his share of the paid up equity capital of the Company .Therefore, full voting right cannot be conferred in respect of partly paid up shares. [Ajit Singh v. DSS Enterprises P. Ltd.]

Further, section 181 provides that the Articles of the Company may provide that no member of the Company shall exercise any voting right in respect of the shares on which any call or other sums presently payable by him have not been paid or in regard to which the company has a right to lien and has exercised that right.

Anshu Garg (working) (139 Points)
Replied 04 June 2011

AGREED WITH SIR ANKUR SRIVASTAV

Mayuri Lal (officer CS) (748 Points)
Replied 04 June 2011

thanks a lot everyone

CA kuldeep kothari (own practice) (375 Points)
Replied 05 June 2011

but in section 87 it is written that voting rights will be in proportion to paid up capital.............

https://www.vakilno1.com/bareacts/companiesact/s87.htm

please check this link

Hitesh Jogani (CA Final...!!) (190 Points)
Replied 06 June 2011

agreed wid ankur sir...!!!

Mayuri Lal (officer CS) (748 Points)
Replied 06 June 2011

voting rights will be in proportion to paid up capital.............when the VOTING WILL BE DONE BY POLL

Mukesh Kumar Singh (CA-FINAL) (4094 Points)
Replied 06 June 2011

Originally posted by : Rajnikant Vadigoppula
there is no differential rights on the basis of paid up value

agreed

tanya (nsji) (21 Points)
Replied 17 July 2011

With respect with S.87(1)(b) of the Companies Act, i just wanted to understand as to how the calculation is done in case of partly paid up shares for the purpose of voting by poll. for eg. if I have paid Re.1 on a share having face value of Rs.10 share and hold 20 such shares then how many vote(s) do I get??