What is the procedure for converting issued un classified shares into classified shares for private limited company???
Plz help....
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 11 February 2014
Issued shares cannot be unclassified. Only unissued shares being part of authorised capital can be unclassified. For converting unclassified shares into classified shares (Preference or Equity), pass an ordinary resolution of members and file Form 5 with ROC.
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