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Preference shares

This query is : Resolved 
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(Querist)
09 September 2009
Prepference shares are to be redeemed either out of profit or out of fresh issue of shares. Can Prefence shares be redeemed in lieu of Preference shares i.e., by way of Journal entry in the books of accounts?
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Ankur Garg

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Ankur Garg (Expert)
09 September 2009 No

Redemption by way of notional entry would not be a good option, hence not advisable.

Regards
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
09 September 2009 Its not possible only.
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
09 September 2009 Normally NO,

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CA CHINTAN AJMERA

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CA CHINTAN AJMERA (Expert)
09 September 2009 No it's not possible.
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