Private placement of preference shares

This query is : Resolved 

26 February 2019 The articles of association of a company says Explanatory statement u/s 102 of companies act 2013 is not required. But for private placement, special resolution has to be passed and in the explanatory statement, terms of issue has to be informed. In that case, does the company need to give explanatory statement in the notice. If not, where shall it state the terms of issue?

26 February 2019 Dear Sir,
It is mandatory to have a explanatory statement u/s 102. Company act will prevail over article of association.
therefore statement u/s 102 is mandatory.

thank you



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries