redemption of Preference shares convertible into equity
This query is : Resolved
31 March 2008
Dear ALl,
I have an important query .
If we redeem a compulsorily convertible preference shares (in to equity) ,.because of mututal adjustment with the Prefernce shareholder is it contravantion of companies Act..(the issuing company is pure private limited company)..
Responses are solicited urgently....
I have an important query .
If we redeem a compulsorily convertible preference shares (in to equity) ,.because of mututal adjustment with the Prefernce shareholder is it contravantion of companies Act..(the issuing company is pure private limited company)..
Responses are solicited urgently....
10 April 2008
THE TERMS OF ISSUE OF CCP CAN BE CHANGED BY THE SHAREHOLDERS SINCE IT IS THE SHAREHOLDERS WHO HAVE AUTHORISED ISSUE THE ORIGINAL CCP.
MEMORANDUM AND ARTICLES ALSO SHALL PERMIT SUCH CHANGE IN THE TERMSOF CCP ALREADY ISSUED .
YOU SHOULD ALSO OBTAIN A LETTER FROM CCP HOLDERS ASKING FOR CHANGE IN THE TERMS OF CCP AND SEEKING REDEMPTION.
THEN THERE IS NO VIOLATION OF COMPANY LAW.
R.V.RAO
MEMORANDUM AND ARTICLES ALSO SHALL PERMIT SUCH CHANGE IN THE TERMSOF CCP ALREADY ISSUED .
YOU SHOULD ALSO OBTAIN A LETTER FROM CCP HOLDERS ASKING FOR CHANGE IN THE TERMS OF CCP AND SEEKING REDEMPTION.
THEN THERE IS NO VIOLATION OF COMPANY LAW.
R.V.RAO
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- FORM 26A APPLICABILITY
- Annual return in Gst
- When TDS on GST applied
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
