Can a Private Co. issue preference shares to more than 50 members say 1000 or 10000 members ?
1 Replies
Chandravijay Shah
(CA)
(53 Points)
Replied 23 May 2007
As per section 3(1)(iii) read with section 2(27) of the Cos Act, 1956, a Private Co. cannot issue preference shares to more than 50 members.
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