Issue of Preference Shares

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Vidisha Jain (Querist)
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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

Jagruti (CS)

Jagruti (CS) (Expert)
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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

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