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Shares and debentures
Corporate & Other Laws
If a company is authorised to issue 2000 redeemable preference shares of rs 100 each and the company redeemed those 2000 shares, now the company wats to issue new preference shares, can the company do so? Or should the company alter it's MOA??
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Best Answer
Yes the company can. After redemption, there is no pref share w the company.So the company can again issue pref share(max-2000) The limit 2000 is wrt to the share holding at any point of time and is not concerned about shares that were redeemed in the past.
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