my self and my friends circle wanted to form a pvt ltd company with
ordinary equity shares 25lakhs
redeemable preference shares 150 lakhs
is it permitted ?
how to declare diviidend for preferenceshares @ 10% Pa (any special provision needed in articles of association)
when company is loss making in a particular year ?
how many directors minimum needed as per new company law 2013 for a pvt ltd company?
There is no specific provision in Comp Act, 1956/2013 putting restriction on capital structure of a pvt comp.
Regarding declaration of dividend by a company making loss u need to refer to Sec. 205A(3) of Comp Act, 1956 and Companies (Declaraion of Dividend Out of Reserves Rules), 1975.
As per Comp Act, 2013, 2 min directors are required for a pvt comp.
Hope my explanation is clear to you.
CAclubindia
