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Remedy to dissenting share holders.
Corporate & Other Laws
Here mam said first 10% of total share capital. In example it is said that 10% of dessented shareholders. Which is correct? It may be possible even 3 people may hold 10% of share capital. Suppose after special resolution the remaining 25% people may be 250 out of 1000 share holders voting. Then 10% of 250 is 25 where appeal is possible. Even 3 people with 10% total capital is also possible but they are contradictory to each other.
Answers (6)
Yeah there may be a 3 person who holding 10%or more than that..also their opinion may be contradictory... Contradictory opinion of the shareholders who are holding 10% of the total Share holdings doesn't matter. share holders ,holding 10% or more of the total share capital agreed , it will be considered Likewise the some of the Share holders holding 10% are more of the total share capital , if they disagreed., They had a right to appeal for tribunal... For example in a company 25% of the shareholders disagree's, let's say 250 shareholders out of 1000. In 250, 20 shareholders are holding 10% or more than of total Share capital, can apply to the tribunal because as they hold major part of that portion in that company In 250, 20 shareholders are holding 10% or more than that of total shar capital..
CA YOGITA HARJANI Faculty
Shareholders holding 10% or more of the ISSUED SHARES OF THAT CLASS OF SHARES shall be considered. They have the right to appeal to NCLT under section 48.
So 10% or more of such class of share capital and not 10% of dissented shareholders
Thread Starter
Sugam SMSo 10% or more of such class of share capital and not 10% of dissented shareholders
yes. 10% or more of the ISSUED SHARES OF THAT CLASS OF SHARES. Please note: these shareholders who are appealing to NCLT... they are the one who are dissenting to the variation of rights. Anyone who agrees to variation of rights will not participate in such an appeal.
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