Maximum period for conversion of unsecured preference shares
Hi... Its a bit urgent.... I just wanted to knw as to wat is the maximum period to convert unsecured preference shares... Kindly let me know asap with a relaible source too... TIA... :)
As per section 55 of companies Act, 2013 A company limited by shares may, if so authorised by its articles issue preference shares which are liable to be redeemed within a period not exceeding twenty years from the date of their issue subject to such conditions as may be prescribed.
You can read the section.
I want to knw abt the maximum time limit for conversion of such shares... So is it tht redemption an conversion are the same??
If you convert even that is redemption. Will update after connecting to some company secretaries.