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of <h1>Company Can Issue Preference Shares: Requires Articles Authorization, Special Resolution, and No Defaults on Dividends or Redemption.</h1> A company with share capital may issue preference shares if authorized by its articles and a special resolution is passed in a general meeting. The company must not have any default in redeeming preference shares or paying dividends. The resolution must detail priority in dividends, participation in surplus funds, conversion rights, voting rights, and redemption terms. The explanatory statement must include details like the issue size, share nature, objectives, pricing, and terms. Preference shares must be recorded in the Register of Members, and any listing must comply with Securities and Exchange Board of India regulations. Redemption terms must align with original or approved conditions.
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