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Coversion of equity shares

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(Querist)
02 January 2014 can i convert equity shares of a pvt. ltd. co. into pref shares ? if yes please give statutory reference. thanks in advance
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CS Adnan Shaikh

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CS Adnan Shaikh (Expert)
02 January 2014 Dear Vijay,

You cannot convert equity shares into preference shares. Alternatively you can buyback equity shares and issue preference shares to same shareholders.

Regards,
Adnan

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