Legal Question in Business Law in India
A company issued 1 crores private placement as preference shares. Before purchasing the share the customers had to take the membership of a society and after that they were allowed to purchase the said preference shares. By this way they sold 2000 plus people to their pref.Shares and were telling that all the member of the societies more than 2000 plus will be counted as a single entity. Is it a correct procedure?
Asked on 12/16/12, 12:07 pm
1 Answer from Attorneys
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