Which of the following companies is eligible to issue shares with Differential Voting Rights (DVRs) during the financial year 2022-23? Type of company Nature of default Whether Articles of Association of the company auth

Section 43 of the Companies Act, 2013 read with Rule 4 of Companies (Share Capital and Debentures) Rules, 2014 provides that company can issue shares with Differential Voting Rights (DVRs) if company's Articles authorise it to issue differential voting right shares. Shares with DVRs can be issued by company limited by shares only. Company cannot issue shares with DVRs if company has defaulted in filing financial statements and annual returns for three financial years immediately preceding the financial year in which it is decided to issue such shares. The provisions of section 43 of the Companies Act, 2013 are applicable to public as well as private company. In light of the above provisions: A Ltd. can issue shares with DVRs. Company would be ineligible to issue shares with s if it has defaulted in filing financial statements and annual returns for three financial years immediately preceding the financial year which it is proposed to be issued. A Ltd. has made default during financial year 2018-19 & 2019-20 only in respect of filing annual return, which was made good during the financial year 2020-2021. Articles of Association of A Ltd. also authorise the company to issue shares with DVRs. B Pvt. Ltd. cannot issue shares with DVRs unless it alter its Articles of Association in such a manner so as to authorise it to issue shares with DVRs.