extention of period of redeemable preference share.

This query is : Resolved

prateek (Querist)
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07 April 2009 dear all,

pls advice me about the way to extend the period of reedemable preference shares of my company. the redeemption period of the such shares was 3yrs(locking).

pls, as per section 80a, should i file an application to tribunel.

or

simple callng BR meeting and EGM of such class shareholders to extened the period .

Advice me as soon as possible.

Jagruti (CS)

Jagruti (CS) (Expert)
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17 April 2009 Extending the term of redeemption is like changing the terms of preference shares.

hence any such change can be made only with the prior approval of preference holders.

thus you can change by passing the resolution in class meeting of preference shareholders