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Conversion of unsecured loan into equity shares

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 August 2014 Dear sir,

Whether a private company can convert its unsecured loan taken from its members before the commencement of the c.l 2013 into equity shares as per the provision of Companies Act,2013

Regards
Ashish Thakur
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CS JAY GOHIL

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CS JAY GOHIL (Expert)
08 August 2014 Yes it is possible and lawful
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