Variation of shareholders' rights

conceptual clarity of section 106 of companies act, 1956

Alteration of rights of holders of special classes of shares [Sec. 106]
The rights attached to the shares of any class may vary:

If and only if

AOA or MOA contains such provision
Such variation is not prohibited by the terms of issue


Either by passing SR in special meeting

By consent of at least ¾ of issued shares of that class