Preference share petitions may approve further redeemable preference shares and order redemption of non consenting holders. The petition under sub-section (3) of section 55 must be in the prescribed form with documents and disclosures including registration particulars, capital structure and classes, memorandum or articles authorising preference shares, total preference shares issued, details of unredeemed or dividend defaulting preference shares, terms of issue, counts and values of unredeemed shares and holder consent details with dates. The Tribunal may approve issuance of further redeemable preference shares equal to amounts due (including dividend) for unredeemed shares, order immediate redemption of shares held by non consenting holders, and award costs.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Preference share petitions may approve further redeemable preference shares and order redemption of non consenting holders.
The petition under sub-section (3) of section 55 must be in the prescribed form with documents and disclosures including registration particulars, capital structure and classes, memorandum or articles authorising preference shares, total preference shares issued, details of unredeemed or dividend defaulting preference shares, terms of issue, counts and values of unredeemed shares and holder consent details with dates. The Tribunal may approve issuance of further redeemable preference shares equal to amounts due (including dividend) for unredeemed shares, order immediate redemption of shares held by non consenting holders, and award costs.
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