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Can we convert unsecured loan to equity under new companies act 2013 i.e under section 62(3) and if yes then do we need to follow section 42 if yes why ???????

Section 62- Further issue of share capital.

Posted By: Amruta 9 year(s) ago

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Akansha

Not required to follow provision of sec 42 (i.e no requirement to issue offer letter under private placement and maintenance of their record etc) . Further sec 62(3) shall be read with sec 71 of the Act

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