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resolution

sreedevi (Trainee) (118 Points)

23 September 2009

Can any one give me a draft copy of resolution for converting unsecured loan into sharecapital

sree

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(Guest)

I don't have the same. But following details are included in the resolution.

(1) Total Amount of Unsecured Loan

(2) Total No. of the Equity shares to be allotted

(3) Face value of Equity share

(4) SWAP ratio

(3) Authority to dirtector to file form no. 2 & other necessary procedure.

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sreedevi (Trainee) (118 Points)
Replied 25 September 2009

Sir,

Thank you for reply.

J. Manivannan (Advocate & IP) (242 Points)
Replied 25 September 2009

“RESOLVED THAT pursuant to provisions of section 75 of the Companies Act, 1956 and Articles of Association of the Company, a total of 4,00,000 (Four Lakhs only ) fully paid-up equity shares of Rs. 10/- each be and are hereby allotted to..........................(Name of the Allottee(s)) by converting the existing loan given by them to the company”.

NIDHI DHAWAN (COMPANY SECRETARY) (46 Points)
Replied 25 September 2009

M.J. Mani I want add further resolution in ur resolution which will make it complete.

FURTHER RESOLVED THAT Shri.................,Director of the Company is be and hereby authorise to take necessary action for giving effect to the above resolution"