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    MGT-14 for redemption of Preference shares

    Posted By : CS / Published on : 22-Jan-2024 10:10 AM / View : 275 / Comment : 2

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    Do NBFC need to file MGT-14 for redemption of Preference shares apart from SH-7.
    Read more on : shares preference redemption

    • In the context of Indian corporate law, filings such as MGT-14 and SH-7 pertain to different forms and different requirements under the Companies Act, 2013.

      1. **Form SH-7**: This form is used for filing a notice to the Registrar of Companies (RoC) for any changes in the share capital of the company. This includes events such as an increase in share capital or redemption of connections game preference shares.

      2. **Form MGT-14**: This form is used for filing resolutions and agreements that need to be registered with the Registrar as per Section 117 of the Companies Act, 2013. Typically, certain types of resolutions passed by the Board of Directors or shareholders, such as special resolutions or those related to change in share capital, must be filed with the RoC.

      The requirement to file MGT-14 generally hinges on whether the transaction requires a special resolution. Redemption of preference shares is typically carried out under the provisions of Section 55 of the Companies Act, 2013. If the redemption involves a special resolution (for instance, altering the terms of the preference shares or if it affects the rights of other shareholders), then MGT-14 might need to be filed alongside any other required forms like SH-7.


      16-10-2024 / 07:14:27 AM
      Reply
    • Yes, NBFCs need to file MGT-14 for the redemption of Flappy Bird preference shares in addition to SH-7.
      04-11-2024 / 09:26:05 AM
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