Issue of Preference Shares
This query is : Resolved
27 April 2010
Hi,
A company is having 7.5 Crores authorised capital - 75L equity shares of Rs. 10 each.
Now the company wants to issue convertible preference shares to the extent of Rs. 5OL.
Should the AOA be altered since the authorised capital clause specifies Equity Shares ??
Kindly specify which all forms need to be filed with ROC.
Thanks
Vidisha
A company is having 7.5 Crores authorised capital - 75L equity shares of Rs. 10 each.
Now the company wants to issue convertible preference shares to the extent of Rs. 5OL.
Should the AOA be altered since the authorised capital clause specifies Equity Shares ??
Kindly specify which all forms need to be filed with ROC.
Thanks
Vidisha
27 April 2010
If you need to amend AoA as well as MoA for reclassification of shares into equity & preference.
Also need to file following Form
Form 23 - Special resolution for change in MoA & AoA
Form 5 for reclassification of authorised capital
Also need to file following Form
Form 23 - Special resolution for change in MoA & AoA
Form 5 for reclassification of authorised capital
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