conversion of preference shares into equity shares
This query is : Open
04 June 2010
AUTHORISED CAPITAL=4,25,00,000
equity shares: 10,50,000 @ 10 each
preference shares: 3,20,000 @ 100 each
PAID UP CAPITAL=38,683,000
equity shares= 7,28,300 @ 10 each
convertible preference shares=3,14,000 @ 100 each
Now the company pans to convert the preference shares into equity shares at 10 + 90(premium) each. In this case what will be my new paid up equity capital? will it remain same or there will be a reduction of capital?
equity shares: 10,50,000 @ 10 each
preference shares: 3,20,000 @ 100 each
PAID UP CAPITAL=38,683,000
equity shares= 7,28,300 @ 10 each
convertible preference shares=3,14,000 @ 100 each
Now the company pans to convert the preference shares into equity shares at 10 + 90(premium) each. In this case what will be my new paid up equity capital? will it remain same or there will be a reduction of capital?
05 June 2010
1. New Eq. PU Capital = 1042300 eq. shrs @ Rs. 10 each.(Rs.1,04,23,000) (Below AU Cap of Rs.1,05,00,000)
2. Pref. PU Capital = Nil (AU Cap. same)
3. Securities Premium Account (on liabilty side of BS = Rs.2,82,60,000)(i.e.314000 @ Rs.90)
No reduction of capital.
Regards,
Vignesh J
2. Pref. PU Capital = Nil (AU Cap. same)
3. Securities Premium Account (on liabilty side of BS = Rs.2,82,60,000)(i.e.314000 @ Rs.90)
No reduction of capital.
Regards,
Vignesh J
Message likes :
1 times
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
- Supply through E-commerce Operators
- STCG....................................................
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Relief u/s Section 89
- TAN for Partnership
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- E way bill for tractors
- Specified Profession
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
