A company wants to convert the deposits into capital. Can a company do the same?
3 Replies
Tejas Tak
(315 Points)
Replied 13 December 2018
As per section 62(3)
nothing in this section shall apply to the increase of the subscribed capital of the company caused by the exercise of an option as a term attached to the debentures or loan raised by the company to convert such debentures or loan into shares of the company
provided that such terms of conversion of loan or debentures having been approved by way of special resolution before issue.
nothing in this section shall apply to the increase of the subscribed capital of the company caused by the exercise of an option as a term attached to the debentures or loan raised by the company to convert such debentures or loan into shares of the company
provided that such terms of conversion of loan or debentures having been approved by way of special resolution before issue.
Shrikant
(Associate)
(350 Points)
Replied 13 December 2018
can i convert the deposits into equity shares?
Tejas Tak
(315 Points)
Replied 13 December 2018
searching for the provisions ill let u know in some time
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