धारा 139

The Board may, with the approval of the shareholders, issue redeemable preference shares of the company. The redeemable preference shares may be secured or unsecured. The Board may also issue redeemable preference shares convertible into equity shares. The redeemable preference shares shall be issued in such manner as may be prescribed. The company shall not issue redeemable preference shares if it has not complied with the requirements of this Act. The company shall not issue redeemable preference shares if it has not paid up the amount due to any redeemable preference share holder. The company shall not issue redeemable preference shares if it has not complied with the requirements of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009.