Issue of shares
This query is : Resolved
Yogita Kavishwar
(Querist)
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
(Expert)
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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