Reclassification of existing shares
This query is : Resolved
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.
in what way the company reclassify the existing shares of pvt ltd company.
CS Ankur Srivastava
(Expert)
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.
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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