Preference shares
This query is : Open
10 September 2013
Dear All,
I have a doubt regarding preference shares .
We have received funds of Rs. 10.8 lakhs from the lender as subscription money for issue of preference shares on 31-08-2012 .
But in the annual return for 2011-12 we have not mentioned about this issue .
Now we wont be able to file Form 2 prior to 31-09-2012(AGM date).
The point is can we use the amount of 10.8 lakhs for ant other purpose ?
Thanks in advance .
I have a doubt regarding preference shares .
We have received funds of Rs. 10.8 lakhs from the lender as subscription money for issue of preference shares on 31-08-2012 .
But in the annual return for 2011-12 we have not mentioned about this issue .
Now we wont be able to file Form 2 prior to 31-09-2012(AGM date).
The point is can we use the amount of 10.8 lakhs for ant other purpose ?
Thanks in advance .
10 September 2013
Firstly confirm, whether you clause V of MOA give permission to issue preference shares.
23 September 2013
Yes the MOA gives permission to issue Preference Shares.
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