Conversion of Preference shares
This query is : Resolved
13 January 2010
Dear Professionals
Can Redeemable preference shares be converted into equity shares by alteration or modification of the Terms of Issue (Terms of Issue of Preference shares is silent on the conversion part of preference shares).
If the Company can do so, pls advise the procedure required to be followed in such case.
Thanks & Regards
CS. Deepika Bhardwaj
Can Redeemable preference shares be converted into equity shares by alteration or modification of the Terms of Issue (Terms of Issue of Preference shares is silent on the conversion part of preference shares).
If the Company can do so, pls advise the procedure required to be followed in such case.
Thanks & Regards
CS. Deepika Bhardwaj
15 January 2010
Yes. Please comply with the procedure for modification of rights of preference shareholders. IN summary:
1) Proposal from issuing company backed by Board Resl
2) Acceptance by shareholders (signed letter) and resolution, if corporate client.
1) Proposal from issuing company backed by Board Resl
2) Acceptance by shareholders (signed letter) and resolution, if corporate client.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CLOSING STOCK QUERY
- Loss of interest in PF transfer from EPFO to Trust
- Sale of Mutual Funds In Diffirent Financial Years
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- Rent claimed on building given on permissive possession basis
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Error in uploading Form 10BD
- Traces submitting correction statement error
- Residential status of non resident
- ITR 44AD SECTION
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
