Question

    No company limited by shares shall, after the commencement of the Companies Act, 2013 issue any preference shares which are __________________

    A Cumulative Correct Answer Incorrect Answer
    B Convertible Correct Answer Incorrect Answer
    C Irredeemable Correct Answer Incorrect Answer
    D Redeemable Correct Answer Incorrect Answer
    E Non-Convertible Correct Answer Incorrect Answer

    Solution

    Companies Act Section 55. Issue and redemption of preference shares: (1) No company limited by shares shall, after the commencement of this Act, issue any preference shares which are irredeemable.

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