Poonawalla fincorps
Poonawalla fincorps

Redemption of preference shares

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(Querist)
29 May 2012 Can the premium collected on fresh issue of equity shares be used for paying premium on redemption of preference shares
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
29 May 2012 Yes, Securities premium can be utilised in providing for the premium payable on the redemption of any redeemable preference shares as per section 78(2)(d) of Companies Act, 1956.

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