Variation of rights us 106 of companies act, 1956

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 June 2012 As per the provisions of section 106 of the Companies Act, 1956 we have taken the unanimous written consent of all the 4% cumulative redeemable preference shareholders for the reduction of rate of dividend from 4% to 0%. After this we have already filed Form 23 with ROC.

Now my query is whether we need to file any other Form with ROC or any other formality is required as per the Companies Act, 1956 to give effect to variation of rights.

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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26 June 2012 According to me , no further formalities are required to be complied except if in case of listed company, you have to inform to the Stock Exchange