Preferential shares

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ajit kumar jain (Querist)
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28 February 2012 1. Shareholder X holding one preference share & One equity share. While counting the limit of 50 member in a private company mr. X would be counted as one member or two members. Please advise

2. Can Non cumulative redeemable preference shareholder be converted into redeemable preference shareholder. Of yes please suggest the process

Guest

Guest (Expert)

29 February 2012 1. X will be counted as 2 member.

2. Yes, you can convert the same as per terms of issue of pref shares by passing ordinary resolution and filing form 5 with ROC.