17 June 2022
Can a loan given to foreign subsidiary given by indian holding company converted into redeemable preference share. pls help. Pls provide comment as per companies Act 2013.
18 June 2022
As per Section 62(3) of the Companies Act 2013 resolution, there is a procedure for conversion of loan into preference shares: Approve terms of the loan by passing a special resolution before taking of loan & file special resolution in e-Form MGT-14 within 30 days.
18 June 2022
Thanks, but sir here Indian holding comp provided the loan to foreign subsidiary. Now Indian company had a asset wants to convert it in a preference share.
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