Convert Unsecured loan into Equity Share Capital
This query is : Resolved
06 November 2016
Dear Experts,
Kindly advice, according to latest provisions of companies Act, whether a pvt ltd company can issue Equity shares agaist unsecured loan i.e. convert Unsecured loan into equity.
Thanks in advance.
07 November 2016
approve term of Loan by passing Special Resolution before taking Loan and file the copy of special resolution with ROC within 30 days of passing Resolution
for Coverting Loan into share capital, pass Board Resolution in the Board Meeting and File PAS 3 for allotment of shares within 30 days
for Coverting Loan into share capital, pass Board Resolution in the Board Meeting and File PAS 3 for allotment of shares within 30 days
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