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Reclassification of existing shares

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Querist : Anonymous

Querist : Anonymous (Querist)

11 June 2012 please any one let me know whether the existing share can be reclassified.
in what way the company reclassify the existing shares of pvt ltd company.

CS Ankur Srivastava

CS Ankur Srivastava (Expert)
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16 June 2012 Yes unissued part of the Authorised share capital can be re classified by passing an Ordinary Resolution and filing form 5 accordingly.

Share can be re classified in any combination of equity and preference shares within the limit of authorised capital. However issued part of it can not be reclassified.

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