Section 88 - Prohibition of issue of shares with disproportionate rights. - Companies Act, 1956

Prohibition of issue of shares with disproportionate rights. 88. [1] [ Omitted by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000.] ----------------------------- Notes:- [1] Prior to omission, section 88 read as under: "88. Prohibition of issue of shares with disproportionate rights. No company formed after the commencement of this Act, or issuing any share capital after such commencement, shall issue any shares (not being preference shares) which carry voting rights or rights in the company as to dividend, capital or otherwise which are disproportionate to the rights attaching to the holders of other shares (not being preference shares)."