as per provision of section 68(power to purchase its own shares) , How a company can protect its creditor's interest by using proceeds from other issues like issue of preference shares for buyback of equity shares?
please reply
3 Replies
Sarita Panchal
(7 Points)
Replied 26 September 2018
company can protect interest of it's creditors by using proceeds from issue of other kind of securities such as issue of preference share.if company is using proceeds of preference share so company is not using it's own money hence it can pay to it's creditors out of it's fund.
murthy
(Asst manager)
(86 Points)
Replied 04 December 2018
if company doesn't have preference share proceedings
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