Arizona Proposal to authorize and issue subordinated convertible debentures

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Proposal to authorize and issue subordinated convertible debentures
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FAQ

If you want to issue instruments which can be converted into equity at future date and valuation then the most suitable instruments are Convertible notes and Convertible Debentures. The valuation report is not required if issued to domestic investors.

Companies can issue CCDs through a private placement offer u/s 42 of the Companies Act, 2013. ingly, issuance of Debentures will be categories as acceptance of Deposit under the provision of Companies Act, 2013.

Companies issue convertible debentures as fixed-rate loans, paying the bondholder fixed interest payments on a regular schedule. Bondholders have the option of holding the bond until maturity?at which point they receive the return of their principal?but, holders may also convert the debentures into stock.

The process of issuing a convertible debenture by a public company within its borrowing limits involves obtaining board approval, seeking shareholder authorization, preparing a prospectus, securing regulatory approval, and then conducting a public offering.

Convertible debentures are further classified as (A) Full Convertible Debentures, (B) Partly convertible Debentures. A resolution for conversion is approved in the board meeting. The shareholders as well as debenture holders' approval is taken for conversion. A special resolution is passed to that effect.

Compulsorily Convertible Debentures Step 1 ? Convene a board meeting for approval of issue of CCD to particular set of people. ... Step 2 ? Decide on the terms of issue and prepare the CCD agreement with all the important terms. Step 3 ? Open a new bank account which will only be used for deposit of this subscription account.

1. Call Board Meeting Form No. ... PAS- 5 Form No. ... Appointing a debt trustee and approving the debt trustee agreement. appointment of a specialist to approve an increase in borrowing authority, if necessary. To permit the establishment of a charge against the company's assets. Accept the debt instrument subscription agreement.

Issuance Process of Optionally Convertible Debentures Board Approval: The board of directors must pass a resolution to authorize the issuance of OCDs, including determining the terms, conditions, and the maximum number of debentures to be issued.

Hold Board Meeting and pass the Board Resolution for Conversion of CCD into Equity Shares along with approving Notice of Genernal Meeting for the approval of Shareholders of the Company. Hold General meeting of the Shareholders of the Company and pass the Special Resolution for Conversion of CCD into Equity Shares.

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Arizona Proposal to authorize and issue subordinated convertible debentures