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Company law

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(Querist)
11 March 2012 CAN A PRIVATE LIMITED COMPANY CONVERT ITS UNSECURED LOAN IN TO REDEEMABLE PREFERENCE SHARES?
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Ajay Mishra

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Ajay Mishra (Expert)
11 March 2012 Hi


You can do so, but for this you may enter into new subscription agreement with the lender of unsecured loan. It will be an option in earlier loan agreement to convert the loan amount into redeemable preference shares.



Regards



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Jiten Gupta

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Jiten Gupta (Expert)
14 March 2012 Agree with expert!!

Company can do so in Board Meeting!!
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