21 April 2009
I am registering a new company. Can I issue share with differential voting rights. I want to issue 500000 shares of Rs 1 each with one voting right each and another 150000 share of Rs 10 each with one voting right. so that person holding first 500000 shares will have majority voting right. Is this legally possible
21 April 2009
A newly registered company cannot issue shares with differential voting rights. Pl go through the link dhttp://www.mca.gov.in/MinistryWebsite/dca/notification/notification2001.html?Notifyear=2001.
Also the following link http://www.mca.gov.in/MinistryWebsite/dca/notification/notification2002.html?Notifyear=2002
CAclubindia
