redemption of reedemable pref. shares

Yes redemption of preference shares amt to reduction of share capital.

Poonam,

Whether company has to pass special resolution in general metting for the same?

Yes ,a Limited Company  having share capital ,if so authorised by its articles ,by special resolution,may reduce its share capital .

Regards

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What if it is Pvt. limited company?

Hi Meenu !

As per my knowledge

section 80 sub-section (3) states that redemption of preference shares does not tantamounts to reduction of authorised capital.

In case of Pvt. Co. redemption if co.is redeeming preference shares as per issue terms. there is no need to take special permission through EGM . 

You can regularise redemption in the AGM by noting that point in AGM .

I have done redemption by passing Board resolution and later on regularising that mtter .

After redemption you need to file Form 5 without payment of stamp duty .

If you want detail checklist of rdemption please let me know I will provide you same.

Regards,

Gargi

Dear Gargi,

Kindly fwd the same pls.

Best Regards,

meenu

Dear gargi,

Kindly fwd the checklist pls.

Dear Ms Gargi, 

Pls share the checklist here so that everyone can get to know about procedure to deal with the aforesaid issue.

Regards

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Hi  dear all,

I am very sorry for delay , but will def. upload it maximum by tomorrow morning.

I was out of office for last 2 days hence did not get time to upload .

I have done redemption of shares held by NRI ,hence need to make some changes for Residential shareholders checklist , I will require some timefor doing so

once again sorry for delay

please find attached checklist for redemption

 Thanks alot !!!

Regards

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