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A debt listed Pvt. CO. Needs to redeem it's preference shares which were issued for 2 years. Now after completing the term the company want to redeem these by issuing fresh issue of equity shares. Kindly guide whether EGM is required or Board Meeting will suffice the purpose.

Fund raising

Posted By: Bunny sehgal 8 year(s) ago

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Divesh Goyal

Preference shares can be redeemed only out of Preference shares can be redeemed only fresh proceeds of shares issued solely for the purpose of funding the redemption of the preference shares. No need of EGM for redemption of preference shares. Board Meeting will suffice.

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