16 October 2008
A public ltd co. (closely held Co.) has issued 9 % non- cumulative redeemable preference shares during the year 2007-08 to existing equity share holders covered in register to be maintained u/s 301.
whether this issue of preference shares falls under the definition of "preferential allotment". and what is the reporting requirement under CARO,2003, which is reproduced as unedr:
"whether the company has made any preferential allotment of shares to parties and companies covered in the register maintained under section 301 of the act.
CAclubindia
