Issue of Preference shares through Right Issue !!

[Sonia Yadav]

Do issue of Preference shares through Right Issue requires Special Resolution in EGM or as Right Issue doesnot requires members approval hence no approval in required in EGM.
Which one will proceed. Kindly Guide shall I take members approval or it is not Required.

Regards

Sonia

Company Secretary 

[lingala subbareddy]

issue of shares through rights issue  leads to  increasing the subscribed capital for which consent of members is necessary. Others, pl offer  their  views.

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[Sonia Yadav]

Increase in subscribed share capital doesnot requires members approval. I have doubt because we want to issue preference shares which requires special resolution and we will issue through Right Issue basis which doesnot requires members approval at all. Hence there is confusion.

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From: lingala subbareddy <lsred...@gmail.com>
To: csmy...@googlegroups.com
Sent: Tuesday, April 12, 2016 12:30 PM
Subject: Re: [CSMysore] Issue of Preference shares through Right Issue !!

[Naveen Kumar]

Sonia ji, no need to confuse, issue of Preference share either through Right issue or pref. issue require the shareholder approval but before it check ur AOA authorised to issue of pref share if not also alter the AOA also and u need to hold BM,issue of Notice along with Explanatory statement and hold GM and pass the SR also and file MGT-14 and PAS-3...   

Regards

Naveen Kumar

[Sonia Yadav]

Thanks Naveen, our AOA permits issue of Preference shares. But Section 62 lays down the provisions for further issue of shares without distinguishing between equity or preference share capital hence if we are increasing the subscribed share capital by issue of either equity or preference shares then there is no need to take shareholders approval.

As per my understanding Right Issue never requires approval of Member.

But can Preference shares be issued without members approval?

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From: Naveen Kumar <csna...@gmail.com>
To: csmy...@googlegroups.com
Sent: Tuesday, April 12, 2016 1:08 PM

[Naveen Kumar]

Sonia ji, i m not talking about the right issue or pref. issue, i m talking about the Issue of pref.share irrespective of right issue or pref. issue require the shareholder approval in GM...

Read sec. 55 along with Rule 9(1)(a).... ur doubt will clear..  

[VATTI SANDEEP REDDY]

Hi Mam,

can you provide me documents required for Issue of Preference shares under rights issue mode to my mail. as early as possible

Thanks In advance

Mail ID  balasande...@gmail.com

Whats app No 9700485787

[RAVI GARG]

Hi,

Click on the below link for  

​

Section 62 Procedure for Preferential Allotment of shares.

http://csravi2014.blogspot.in/2017/03/procedure-for-preferential-allotment-of.html​

Share view and query on the webpage  for solution.

Thanks & Regards                       

Ravi Garg                                    Facebook Group               Linkedin

Company Secretary                     Google Group                   Blog

91-7838204665, 

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[Namrata Vyas]

Hii,,

Do you have the documents for issue of preference shares through Private Placement. plz mail on vyasna...@gmail.com

Regards

CS Namrata