Hi, "X Ltd" company allotted its sister concern company "Y Ltd" 4.5% Redeemable Cumulative preference shares (7 lakh shares) to be redeemed after 3 years from allotment. (Approval taken AGM and post that allotted through Board meeting As company was not able to redeem post 3 years, X ltd with approval of Board X ltd extended period of redemption for 3 years more - Is this correct way to do, without taking members approval can period be extended? Further can this preference shares be converted in equity shares by X ltd? Both Company are listed on BSE and NSE
Posted by kushal jain on 14 Feb 2018
Section 39 Allotment of securities by companyYou should be login to post your answer, post your comment, like, dislike. To login Click Here