section 66 applicable to preference shares?
Shlok Avlani (25 Points)
03 March 2018
section 66 applicable to preference shares as well?
Shlok Avlani (25 Points)
03 March 2018
Jatin Bajaj
(CS)
(2928 Points)
Replied 03 March 2018
Section 66 of the Companies Act 2013 deals with the reduction of the issued/Paidup/Subcribed paid up share capital of the Company. Preference shares are not covered under Section 66 of the Companies Act 2013. It is covered under different section of the Companies Act 2013 and no approval of NCLT is required.
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