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Board Resolution - Conversion of Loan / Debenture into Equity Shares

This resolution required to be passed by the Board of Directors of the Company for conversion of loan into Equity Shares as per the terms mentioned in the term sheet / loan agreement duly approved by the Shareholders of the Company before the issue of such loan / debentures

Chapter: Chapter - IV

Section: Section 62

Approximate Time Saving: 2 hours

Rs. 49

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This document consist of word format of Board Resolution along with Preamble for conversion of loan into Equity Shares. 

This will help to your save time, effort and easy execution of this resolution

Additional Information

Section 62(3)

Nothing in this section shall apply to the increase of the subscribed capital of a company caused by the exercise of an option as a term attached to the debentures issued or loan raised by the company to convert such debentures or loans into shares in the company:

Provided that the terms of issue of such debentures or loan containing such an option have been approved before the issue of such debentures or the raising of loan by a special resolution passed by the company in general meeting.

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Conversion of loan into equity shares