PAS-3_Fully paid-up & Partly paid-up Issue

[CS Deepanshu Goyal]

Greetings!

I am currently encountering an issue while filling out Column 20 in Form PAS-3 (Capital Structure of the Company after taking into consideration the above allotment(s) of shares).

Our company currently has 3,00,000 fully paid-up preference shares of Rs. 10 each, and we are in the process of issuing 8,020 Optionally Convertible Preference Shares (OCPS), which are partly paid-up at Rs. 1 per share.

However, in Column 20 of PAS-3, I am unable to separately bifurcate the preference share capital, as the form only allows for the entry of a single class of preference shares. Specifically, we are trying to reflect both the fully paid-up preference shares (Rs. 10 paid-up) and the partly paid-up OCPS (Rs. 1 paid-up).

Could you please advise on how to proceed in entering these details correctly, considering that the form does not currently provide an option to differentiate between these two classes of preference shares?

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Thanks & Regards...

CS Deepanshu Goyal

Nitika & Associates

(Company Secretaries)

A Peer Reviewed Firm: 5854/2024

Unit No. 104, 1st Floor, Vipul Business Park, 

Sector-48, Gurgaon, HR-122018

M: +91-9817684049

[CS Seema Mhatre]

Hi ,

As per my understanding fully paid up preference shares and partly paid up optionally convertible preference shares are 2 different category of shares.

So opt of 2 classes of preference shares and mention it separately .

Also attach BR and other terms and conditions of OCPS to the form

If there are any other views would love to hear them