12 June 2011
Respected Experts Can any Company get approval from ROC to issue Preference Shares for Rs 50 Crors when its Authorised Capital is Rs 1 Cror only Thanks Debashis Mandal
14 June 2011
GUPTA JI says absolutely right No company raised preference share /equity /or any other form , which is exceed authorized capital which is stated in Memorandum of article . If board of directors pass resolution respects of preference share , this is called ultra virus act and each boards of directors’ is liable for penalty and fine or both according to appropriate law of company act -1956 stated
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