Conversion of secured loan into equity
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 February 2015
What procedure we need to follow for converting loan into equity shares under Companies Act, 2013.
And if the loan amount exceeds the remaining authorised capital, do we need to increase the authorised capital.
Kindly provide the required guidance for the same.
And if the loan amount exceeds the remaining authorised capital, do we need to increase the authorised capital.
Kindly provide the required guidance for the same.
04 February 2015
yes, if authorised capital is equal to paid up capital of the company and the company wishes to issue more shares then the company may do so but have to alter the capital clause by passing a special resolution by conducting an EGM and take necessary approval from members of the company
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