Pre Mature redemption of preference shares
This query is : Resolved
Deepika Bhardwaj
(Querist)
27 May 2009
Dear Professionals
Can cummulative preference shares redeemable after 20 years be redeemed before the expiry of 20 years.
can anyone provide me the checklist in caxse of pre mature redemption of preference shares or redemption of preference shares.
Best regards
Deepika Bhardwaj
Can cummulative preference shares redeemable after 20 years be redeemed before the expiry of 20 years.
can anyone provide me the checklist in caxse of pre mature redemption of preference shares or redemption of preference shares.
Best regards
Deepika Bhardwaj
CS. Ashish Shah
(Expert)
02 June 2009
Dear Deepika,
Now the preference shares can not be issued which are redeemable after 20 years.
For the redemption of the preference shares, its issue terms needs to be checked.
If the redemption is allowed by the Board, then pass a Board Resolution for its redeemption through internal accruals or through a fresh issue of shares (say Rights Issue)
Regards,
Ashish Shah
Now the preference shares can not be issued which are redeemable after 20 years.
For the redemption of the preference shares, its issue terms needs to be checked.
If the redemption is allowed by the Board, then pass a Board Resolution for its redeemption through internal accruals or through a fresh issue of shares (say Rights Issue)
Regards,
Ashish Shah
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