Fact :
Listed Company have issued Non-cumulative , Non-convertible Preference shares to other than promoters and existing members.
As per Section 42 (7) of Companies Act, 2013 we have to file PAS 4 and PAS 5 to ROC and SEBI within 30 days of circulation of relevant Private Placement Offer Letter.
Query
1) Pls suggest whether PAS 4 & 5 also applicable to issue of preference shares on private placement
2) If yes , is it require to file to SEBI also ??as there are no earlier pref.share capital and these pref.shares are also not going to be listed
Pls suggest
CAclubindia
