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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Trustees must file declarations for both equity and preference shares u/s 153B(1), per Companies Law directive.</h1> A declaration must be filed for preference shares in addition to equity shares, as required by sub-section (1) of section 153B, regardless of whether the preference shares are participating or have voting rights. The section does not differentiate between equity and preference shares, thus both must be considered for declarations and exemption limits specified in sub-section (4). This requirement is addressed to trustees, who must submit the declaration to the public trustee, ensuring compliance with the Companies Law as outlined in the circular dated December 24, 1964.
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