Issue and redemption of preference shares

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....a) the issue of such shares has been authorized by passing a special resolution in the general meeting of the company (b) the company, at the time of such issue of preference shares, has no subsisting default in the redemption of preference shares issued either before or after the commencement of this Act or in payment of dividend due on any preference shares. (2) A company issuing pre....

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....aterial facts concerned with and relevant to the issue of such shares, including- (a) the size of the issue and number of preference shares to be issued and nominal value of each share; (b) the nature of such shares i.e. cumulative or non - cumulative, participating or non - participating, convertible or non - convertible (c) the objectives of the issue; (d) the....