SECTION 2(47) – CONVERSION OF CCPS INTO EQUITY SHARES DOES NOT AMOUNT TO TRANSFER

Convertible preference shares (CPS)/Cumulative Convertible Preference Shares (CCPS) are issued with the specific terms and conditions that after a certain period the CPS/CCPS shall be converted into equity shares (or other asset) at a pre-determined price or the price to be determined as per the prescribed formula. On conversion of a CPS/CCPS, preference shares are […]

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