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A company can issue new redeemable preference shares in lieu of dividend and non-payment of amount of payable for redemption provided-
Approval of the tribunal has been taken
Unanimous consent of the holders has been taken
consent of the shareholders who hold three forth value in such shares
Both a and c
When a company is not in a position to redeem shares then in such a case with the consent of the shareholders who hold three fourth value of such shares and with the approval of the tribunal on petition made byit in this behalf can issue further redeemable preference shares in lieu of redeemable preference shares and dividends payable on them.
By: Srishti Gupta ProfileResourcesReport error
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