https://www.taxtmi.com/acts?id=12370 Section 80A requires redemption of preference shares issued before the 1988 amendment: irredeemable shares must be redeemed within a prescribed period from commencement; shares redeemable at a later date must be redeemed on their due date or within a prescribed period from commencement, whichever is earlier. If a company cannot redeem or pay dividends, it may petition the Tribunal to issue further redeemable preference shares equal to amounts due, whereupon the unredeemed shares are deemed redeemed. The section cannot be varied by shareholder resolution, statutory scheme, Court, Tribunal or Central Government; noncompliance attracts company fines and officer penalties. en-us Sat, 07 May 2011 14:15:13 +0530 Sat, 07 May 2011 14:15:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12370 Section 80A requires redemption of preference shares issued before the 1988 amendment: irredeemable shares must be redeemed within a prescribed period from commencement; shares redeemable at a later date must be redeemed on their due date or within a prescribed period from commencement, whichever is earlier. If a company cannot redeem or pay dividends, it may petition the Tribunal to issue further redeemable preference shares equal to amounts due, whereupon the unredeemed shares are deemed redeemed. The section cannot be varied by shareholder resolution, statutory scheme, Court, Tribunal or Central Government; noncompliance attracts company fines and officer penalties. Act-Rules Companies Law Sat, 07 May 2011 14:15:13 +0530 https://www.taxtmi.com/acts?id=12370