Buy Back of Preference Shares

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Can a company buy back its preference shares under section 77A?

Particularly - If a company proposes to convert the Fully convertible debentures into preference shares and do so. Now can a company buy back those preference shares u/s 77A?

Thanks and regards

Deepak Maharishi

Replies (1)

Yes, Company can buy-back its preference shares, Because Now Its part of Share Capital and doesn’t remain the Debentures

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