AUBSP Description

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

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ICSI: All members and students are requested to abstain from posting disparaging remarks on any medium including social networking sites or blogs against the CS Institute, its office bearers/ employees and the profession.

TaxPayers: CENVAT credit is allowable to assessee even if supplier hadn’t discharged its duty [Commissioner of Central Excise, Jalandhar v. Kay Kay Industries (2013)(SC)].

ICSI: The Companies Act, 2013 shall not be applicable to June, 2014 Examinations of the CS Foundation, Executive and Professional Programmes.