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    Conversion of preference shares into equity

    Posted By : damini / Published on : 26-Feb-2020 07:12 AM / View : 436 / Comment : 0

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    Dear Members,

    Please guide on below mentioned query:

    In a Private Company 7,00,000 preference shares of Rs. 10 each are converted into 52,778
    equity shares of Rs. 10 each at a premium of Rs. 122.63 per share. No cash is paid to
    existing preference shares for this conversion.

    Now, in Form SH-7 do I have to select option convert (under head consolidation or division)
    or redemption of shares.

    What are mandatory attachments required in this matter in Form SH-7. Does any approval from Tribunal is also required?

    Further, after approval of Form SH-7, do I have to file Form PAS-3 also.

    Request you to please reply as early as possible. Your prompt reply shall be very helpful.
    Read more on : equity into shares preference conversion

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