OREANDA-NEWS.Preferential issue of shares is governed under section 62 of the Companies Act, 2013 and the Companies (Share, Capital and Debentures) Rules 2014. For listed companies such matters are regulated by Securities and Exchange Board of India (SEBI). These provisions do not require approval of Company Law Board (CLB) and as per the information furnished by the Company Law Board, also no such cases are pending with the CLB.

This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Lok Sabha today.