A Pvt. Ltd. company wanted to increase its authorised share capital by issue of preference shares. The EGM was held and an ordinary resolution passed. Then Form 5 was filed showing the additional amount of authorised capital increased by issue of preference shares. The form 5 got approved.
Now the company wants to show equity shares instead of the preference shares in the authorised capital structure as the amount of capital increased. Considering that Form 5 was filed showing preference shares in the increased capital structure, now can the authorised capital increase be shown by issue of equity shares instead of preference shares?
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