Chapter: IV
Section: 62(3)
Approximate Time Saving: 1 hour , 30 minutes
This document consists of draft Shareholder Resolution along with Explanatory Statement to approve the term sheet for raising of Loan with the option to convert into Equity Share, in editable word format, making it handy to use and save your time and effort.
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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