Redemption of Preference Shares

Priyamvada Rasal (Querist) 19 May 2011 This query is : Resolved
Hi...

Kindly let me know what is the procedure to be followed for the RBI approval in case of Redemption of Preference shares??Is there any ECB involved if the company is a foreign company??

Regards,
Priyamvada

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abhay dholakiya (Expert) 19 May 2011
i think first company should take a permition from sebi and after you will get whole permition easily pls clear whole metter and your question you send me on abhi2786@gmail.com for the further information regarding preferance shares redemption

Guest (Expert) 20 May 2011
The company has to convert the fully convertible shares in to equity shares from the due date. But have you got appropriate approval from the AGM for adequate increase in the authorised share capital to accommodate convertible shares in to the equity? I think your Company Secretary and CA should be fully aware of the process of conversion.

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