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Conversion of preference shares into equity

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(Querist)
14 September 2013 My doubt is - can a company pass a board resolution to give effect conversion of convertible pref shares into equity with RETROSPECTIVE EFFECT ? Say due for conversion was 10/05/2013, but board thinks on 10/09/2013 to give effect the same from 10/07/2013.

Kindly help. Thank You.
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Ajay Mishra

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Ajay Mishra (Expert)
14 September 2013 Hi

Please check what your article says on it.


Generally you can not allot shares retrospectively.
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Biren

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Biren (Querist)
14 September 2013 Thank You Sir. It was a doubt from text book.
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Ajay Mishra

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Ajay Mishra (Expert)
14 September 2013 My Pleasure.......
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