https://www.taxtmi.com/acts?id=17352 Companies limited by shares may not issue irredeemable preference shares; redeemable preference shares are permitted only if authorised by the articles and generally redeemable within twenty years, with longer terms for specified infrastructure projects subject to prescribed annual partial redemption. Redemption must be from distributable profits or fresh issue proceeds, require fully paid shares, and creation of a Capital Redemption Reserve Account treated as paid up capital; premiums on redemption must be provided from profits or securities premium account per accounting compliance. If a company cannot redeem or pay dividends, it may with three fourths holder consent and Tribunal approval issue further redeemable preference shares equal to amounts due, deeming the originals redeemed, while dissenters' shares are to be redeemed forthwith by Tribunal order. en-us Sat, 02 Mar 2013 11:18:08 +0530 Fri, 28 Nov 2025 16:38:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=17352 Companies limited by shares may not issue irredeemable preference shares; redeemable preference shares are permitted only if authorised by the articles and generally redeemable within twenty years, with longer terms for specified infrastructure projects subject to prescribed annual partial redemption. Redemption must be from distributable profits or fresh issue proceeds, require fully paid shares, and creation of a Capital Redemption Reserve Account treated as paid up capital; premiums on redemption must be provided from profits or securities premium account per accounting compliance. If a company cannot redeem or pay dividends, it may with three fourths holder consent and Tribunal approval issue further redeemable preference shares equal to amounts due, deeming the originals redeemed, while dissenters' shares are to be redeemed forthwith by Tribunal order. Act-Rules Companies Law Sat, 02 Mar 2013 11:18:08 +0530 https://www.taxtmi.com/acts?id=17352