What is the procedure for conversion of advance from customers received into equity under the new act. Also, what are the documents and forms required to be filed with the ROC regarding the same.
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Procedure for conversion of advance from customers to equity
Replies (3)
You may allot shares under Private placement of equity shares under section 42 of the Companies Act, 2013.
Forms to be filed with ROC:
1.Form SH 7 for increase in authorised Capital if required.
2. 2 Form GLN2 (for filing private placement offer letter and records of allottees to the ROC along with Board and shareholders resolution)
3. Form MGT14 (filing of copy of special resolution for approval of private placement)
4. Form PAS 3 (for allotment of shares).
Thank you sir... The allotment will be for consideration other than cash ? If so then we require to attach a contract agreement...
Respected ankur sir.
can u please clarify where it is mention that we can convert loans and advances into equity.
my email id is
csdiveshgoyal @ gmail.com
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