preference shares .-
(1) Subject to the provisions of this section, a company limited by shares may, if so authorised by its articles, issue preference shares ... shares, it shall have power to issue shares up to the nominal amount of the shares redeemed or to be redeemed as if those shares
given to Registrar for alteration of share capital.—
(1) Where — (a) a company alters its share capital in any manner specified in sub-section ... increasing authorised capital of a company; or (c) a company redeems any redeemable preference shares, the company shall file a notice in the prescribed form
Application of premiums received on issue of shares.—
(1) Where a company issues shares at a premium, whether for cash or otherwise, a sum equal ... providing for the premium payable on the redemption of any redeemable preference shares or of any debentures of the company; or (e) for the purchase
shares into stock, etc .-
(1) If a company having a share capital has- (a) consolidated and divided its share capital into shares of larger amount ... shares into stock; (c) re-converted any stock into shares; (d) sub-divided its shares or any of them; (e) redeemed any redeemable preference shares
Redemption of irredeemable preference shares, etc -
(1) Notwithstanding anything contained in the terms of issue of any preference shares, every preference share issued before ... issue of such further redeemable preference shares, the unredeemed shares shall be deemed to have been redeemed. (2) Nothing contained in section
indicates the nature of redeemable preference shares. The section provides that no such share would be redeemed except out of the profits of the company ... case of other preference shares." (page 358)
"Today, preference shares may be expressly created as redeemable and even if they
apply as if the share premium account were the paid-up share capital of the Corporation. (6) The share premium account referred ... providing for the premium payable on the redemption of any redeemable preference shares or of any debentures or of any securities of the Corporation
Section 4 in The State Financial Corporations Act, 1951
4. Share capital and shareholders .-
[(1) The authorised capital of the Financial Corporation shall be such ... same face value and such number of fully paid-up redeemable preference shares of the same face value and shall be issued to the parties
redemption of preference shares.—
(1) No company limited by shares shall, after the commencement of this Act, issue any preference shares which are irredeemable ... issue of such further redeemable preference shares, the unredeemed preference shares shall be deemed to have been redeemed: Provided that the Tribunal shall, while giving
severally refund the money collected by
BREDL through issuance of redeemable preference shares with interest at the rate of
15% p.a. compounded on half ... directors not to mobilize funds from investors through the offer of Redeemable
Preference Shares/equity shares till further orders. By the said order, BREDL
