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Preference shares

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(Querist)
10 September 2013 Dear All,

I have a doubt regarding preference shares .

We have received funds of Rs. 10.8 lakhs from the lender as subscription money for issue of preference shares on 31-08-2012 .

But in the annual return for 2011-12 we have not mentioned about this issue .

Now we wont be able to file Form 2 prior to 31-09-2012(AGM date).

The point is can we use the amount of 10.8 lakhs for ant other purpose ?

Thanks in advance .
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Ajay Mishra

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Ajay Mishra (Expert)
10 September 2013 Firstly confirm, whether you clause V of MOA give permission to issue preference shares.
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Annie Jodhani

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Annie Jodhani (Querist)
23 September 2013 Yes the MOA gives permission to issue Preference Shares.
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