Cumulative Preference Share-Redeemable

Save Share

This query is : Resolved

Ashish Kapil (Querist)

08 January 2008 Plz tell me what points to be seen in the audit of the Redeemable Cumulative preference shares. What is co. law requirements and sebi requirements. I.tax obligations etc.

Let me know friends

R.V.RAO

R.V.RAO (Expert)

10 April 2008 -RCPC ORIGINAL TERMS OF ISSUE
-WHETHER TERMS OF ISSUE COMPLIED FOR ISSUE, AND DIV. PAYMNT,
-SERIAL NUMBERING CONTROL
-RECEIVER'S ACK. FOR RECEIPT OR DEMAT CONFIRMATION
-COMPLIANCE WITH MEMORANDUM AND ARTICLES.
-APPLICABILITY OF RECENT GOVT. GUIDELINES THAT IF IT IS COMPULSORILY CONVERTIBLE IT IS PART OF EQUITY -OTHERWISE IT IS DEBT.
- WHETHER ANY CHANGE IN TERMS IF ANY CONFIRMED BY SHAREHOLDERS APPROVAL
- PREF. DIVIDEND WHEN PAID DIV.DISTRIBUTION TAX PAID CORRECTLY
- NOTES TO ACCOUNTS AND REFLECTION IN ANNUAL FIN. STATEMENTS CORRECTLY OF LIABILITY ON ACCOUNT OF CUM.PREF. DIV.
-THE REDEMPTION OF PREF. SHARES IS AN OPTION OF THE COMPANY NOT THAT OF HOLDERS.
-IN CASE LISTED ,ENSURE CLAUSES IN LISTING AGREEMENT COMPLIED IN LETTER AND SPIRIT.
-ENSURE COMPLIANCE AS PER STOCK EXCH.AND SEBI DISCLOSURE AND INVESTOR PROTECTION GUIDELINES -2000-FORM AN INVESTOR GRIEVANCES COMMITTEE OF DIRECTORS .
-ON REDEMPTION, ENSURE ORIGINAL TERMS OF REDEMPTION LIKE NOTICES TO HOLDERS AND MODE OF REDEMPTION ETC.. COMPLIED OR NOT.
R.V.RAO

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now