What is Reclassification of shares?
This query is : Resolved
Deepika Bhardwaj
(Querist)
16 February 2009
Dear professionals
Pls let me know wat is reclassification of shares?
Is there any specific definition of same provided under Act or any other law?
If we cancel unissued equity share capital and simultaneously create preference shares keeping authorised share capital unchanged. Will it amount to reclassification of shares?
Thanks & regards
CS. Deepika Bhardwaj
Pls let me know wat is reclassification of shares?
Is there any specific definition of same provided under Act or any other law?
If we cancel unissued equity share capital and simultaneously create preference shares keeping authorised share capital unchanged. Will it amount to reclassification of shares?
Thanks & regards
CS. Deepika Bhardwaj
CS Vivek Hegde
(Expert)
17 February 2009
Deepika
Yes.. change in the proportion of the Authorised Share Capital is a reclassification.
vivek
Yes.. change in the proportion of the Authorised Share Capital is a reclassification.
vivek
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