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Issue of shares

This query is : Resolved

Yogita Kavishwar (Querist)
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09 March 2015 As per Section 62(3) if a Company pass a special resolution to convert Unsecured loan into Equity shares then whether it is compulsory to treat this as a Private Placement and issue Form PAS 4 to such person for allotting equity shares against unsecured Loan? Please guide ASAP.

CS JAY GOHIL

CS JAY GOHIL (Expert)
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09 March 2015 if unsecured loan holders are difference from existing share holders than is is advisable to make private placement but if unsecured loan holder & existing share holders are same person than it is advisable to make right issue in right issue no need of PAS - 4

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