- 6878 Views
- 29 Apr 2019
- Ekta Pandey
- Companies Act 2013, Corporate Law, Procedure, Knowledge, MCA, ROC, Compliance,
In order to convert the loan into share capital, as per provisions of section 62(3) of the Companies Act, it is mandatory that the Company has taken a loan on the terms that the loan can be converted into equity share capital and such option has been approved by special resolution before taking of loan. Procedure for accepting the loan: Hold a Board Meeting by giving a notice to all ......