Preference shares

Aravindan (Querist) 10 August 2011 This query is : Resolved
Can a private limited company can issue redeemable preference shares to individuals or public. (can it be redeemed in 7 years).

To advertise in daily classified and issue preference shares is legal.

Please help, thanks.
Aravindan

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S.KARUNAMOORTHY (Expert) 10 August 2011
As a pvt co you can issue redeemable preference shares not more than 20 years at any time. As a pvt you can not solicit public to invest in your co which is violative of section 3 of companies Act. Hence you should issue those shares only to relatives and friend of promoters.

Aravindan (Querist) 10 August 2011
Thanks alot.

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