TMI BlogIssue and redemption of preference shares.X X X X Extracts X X X X X X X X Extracts X X X X ..... issue preference shares which are liable to be redeemed within a period not exceeding twenty years from the date of their issue subject to such conditions as may be prescribed: Provided that a company may issue preference shares for a period exceeding twenty years for infrastructure projects, subject to the redemption of such percentage of shares as may be prescribed on an annua ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s provided in this section, apply as if the Capital Redemption Reserve Account were paid-up share capital of the company; and (d) (i) in case of such class of companies, as may be prescribed and whose financial statement comply with the accounting standards prescribed for such class of companies under section 133, the premium, if any, payable on redemption shall be provided for out ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (such shares hereinafter referred to as unredeemed preference shares), it may, with the consent of the holders of three-fourths in value of such preference shares and with the approval of the Tribunal on a petition made by it in this behalf, issue further redeemable preference shares equal to the amount due, including the dividend thereon, in respect of the unredeemed preference shares, and on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the company, in paying up unissued shares of the company to be issued to members of the company as fully paid bonus shares. Explanation. For the purposes of sub-section (2), the term infrastructure projects means the infrastructure projects specified in Schedule VI. - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation ..... X X X X Extracts X X X X X X X X Extracts X X X X
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