i need to know the procedure of Conversion of unsecured loan into equity by a pvt. Company. as scetion 81 is not applicable to a private company as per the provision of section 81 (3) (a).
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Conversion of unsecured loan into equity by a pvt. company
Replies (1)
There is no bar for conversion of loan into share capital. You are required to enter into agreement with lender for conversion of loan into capital.
Call a Board meeting and pass a resolution and file Form-2 and form 3 within 30 days.
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