Conversion of preference shares
This query is : Resolved
Rishi Vyas
(Querist)
25 April 2012
A company alotted convertible preference shares in the BM and one of the allottees got the shares converted into equity in the same meeting. Is it legally ok?
Regards,
Rishi
Regards,
Rishi
Ajay Mishra
(Expert)
26 April 2012
Hi
Please check what is your articles permit to do so, in case of private company, it is possible to do so. But in case of public company shareholders approval is required for issuing of preference shares.
Regards
Please check what is your articles permit to do so, in case of private company, it is possible to do so. But in case of public company shareholders approval is required for issuing of preference shares.
Regards
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