resolution

Others 952 views 5 replies

Can any one give me a draft copy of resolution for converting unsecured loan into sharecapital

 

sree

Replies (5)

I don't have the same. But following details are included in the resolution.

(1) Total Amount of Unsecured Loan

(2) Total No. of the Equity shares to be allotted

(3) Face value of Equity share

(4) SWAP ratio

(3) Authority to dirtector to file form no. 2 & other necessary procedure.


Sir,

Thank you for reply.

 RESOLVED THAT pursuant to provisions of section 75 of the Companies Act, 1956 and Articles of Association of the Company, a total of 4,00,000 (Four  Lakhs only ) fully paid-up equity shares of Rs. 10/- each be and are hereby allotted to..........................(Name of the Allottee(s)) by converting the existing loan given by them to the company”.

 

M.J. Mani I want add further resolution in ur resolution which will make it complete.

FURTHER RESOLVED THAT Shri.................,Director of the Company is be and hereby authorise to take  necessary action for giving effect to the above resolution"

Sir,

Thank you very much.


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