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      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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