Dear sir/Ma'am,
In case of Private company,Whether private company can convert loan from directors into share capital by enhancing the authorised capital of the company as per the Companies act,2013?.If,Yes what is the procedure to be followed and Forms to be filed with ROC for the same issue of shares and increase of authorised capital.
Thanks in advance
Yes it can be converted and shares can be issued under private placement route under section 42 or under preferential allotment under section 62.
Forms need to be filed are MGT 14, SH7 if required, GLN2, PAS3.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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