Convertible Preference Shares

Vinod Kashyap (XBRL Training) (451 Points)

20 May 2007  

A Private Limited Company wants to raise funds by issue of Preference Shares to a Foreign Company which will be automatically converted in Equity Shares after the expiry of one year.

Plz suggest the procedure to be followed :-

(a) under the Companies Act

(b) External Commercial Borrowings Guidelines