https://www.taxtmi.com/acts?id=18493 Rule 9 permits issuance of preference shares if authorised by the articles and a special resolution, provided the company has no subsisting default in redemption or dividend payment. The authorising resolution must specify priority to equity, participation in surplus, dividend character, conversion and voting rights, and redemption terms. The explanatory statement must disclose size, nature, objectives, price, pricing basis, dividend and redemption terms including conversion and modes of redemption, current shareholding and expected dilution. Redemption is limited to the issued terms or varied terms approved by preference shareholders. en-us Wed, 02 Apr 2014 13:28:58 +0530 Wed, 18 Feb 2026 17:47:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=18493 Rule 9 permits issuance of preference shares if authorised by the articles and a special resolution, provided the company has no subsisting default in redemption or dividend payment. The authorising resolution must specify priority to equity, participation in surplus, dividend character, conversion and voting rights, and redemption terms. The explanatory statement must disclose size, nature, objectives, price, pricing basis, dividend and redemption terms including conversion and modes of redemption, current shareholding and expected dilution. Redemption is limited to the issued terms or varied terms approved by preference shareholders. Act-Rules Companies Law Wed, 02 Apr 2014 13:28:58 +0530 https://www.taxtmi.com/acts?id=18493