A listed company has taken a term loan from a financial institution and is regularly paying the interest and loan installments. The institution proposes to convert 20% of the loan into equity shares of the company as per
CS Professional · Advanced Company Law and Practice · PYQS · December 2014
A listed company has taken a term loan from a financial institution and is regularly paying the interest and loan installments. The institution proposes to convert 20% of the loan into equity shares of the company as per the terms of the loan agreement. Advise the company, whether the financial institution can enforce the convertibility clause.
Topics: Share Capital and Debentures
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