A Company XYZ Limited, issued Non-Convertible Preference Shares on rights basis. However, the company now wishes to change the terms of issue and change the preference shares to Convertible Preference shares and convert it to equity at a later date.
First, is this possible under Companies Act, 2013? If Yes, under what provisions and what is the procedure?
Thanks.
Yes, it can be down by following procedure u/s 48.
Thank you sir. What is the procedure for the same and if possible, may you please share draft documents of the same.
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
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