plz help....
1. are the preference shareholders members of a company???
2..does a transfer deed need to be signed by both joint share holders???
thanks in advance...
CA.ViVeK M ACA
(ACCOUNTS DEPARTMENT)
(28544 Points)
Replied 01 November 2010
Share holders both equity and preference shareholders are the members of the company. A share is a share in the share capital of the company. So share holders are the memebers of the company.
Debenture holders are creditors of the company
For the purpose of transfer both the shareholders required to be transfered in the case of joint shareholding
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 02 November 2010
Dear Sneha,
I agreed with Mr. Arvind and Vivek.
Preference Shareholders are also members of the company. For example, if you see Schedule V relating to Annual Return, it specifically mentioned that preference shareholders are also covered with equity shareholders.
The same provisions regarding to equity shares are also applicable to preference shareholders including transfer.
Regards
CAclubindia
