Lokesh Gohil (PCS) (63 Points)
28 April 2016Gd Mrng
if a private company go for preferential issue of Equity shares U/s 62 (1) (c) read with Section 42 of CA 2013 to the existing 2 shareholders also a Director in the Company who jointly hold more than 30 % shares in the Company , How we can pass Special Resolution for issue of share to the existing members of the Company require voting percentage of 75% Can a interested Shareholders vote on a special resolution to whom propose share will be issue under preferential basis
Pratik Shah
(Practising Company Secretary)
(4432 Points)
Replied 28 April 2016
Yes, a resolution can be passed by existing members for issuing shares to themselves. Issuing Shares does not fall under the perview of Section 188.
Lokesh Gohil
(PCS)
(63 Points)
Replied 28 April 2016
that means a interested member can vote on a resolution for issuing shares to themselves except restriction contained in section 188 am i right sir
Lokesh Gohil
(PCS)
(63 Points)
Replied 28 April 2016
that means a interested member can vote on a resolution for issuing shares to themselves except restriction contained in section 188 am i right sir
Pratik Shah
(Practising Company Secretary)
(4432 Points)
Replied 28 April 2016
Yes, correct. Further, Private Limited companies are given exemption under Section 188 in which even interested members can vote on resolutions even if it falls under the points mentioned in Section 188. Please refere notitifcation dated 05th June, 2015
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