https://www.taxtmi.com/caselaws?id=764093 A company-led debt-to-equity conversion that increases subscribed capital requires a special resolution of shareholders under Section 62(1)(c) of the Companies Act, 2013 before the resulting equity shares can be accepted for listing. The court treated the conversion as initiated and adopted by the company itself, not as an independent act of the asset reconstruction company, because the company's board resolved to implement the proposal and sought listing of the additional shares. The stock exchange's refusal to accept the listing request for want of the requisite approvals under the listing regulations was therefore justified and sustained. en-us Tue, 10 Dec 2024 00:00:00 +0530 Fri, 03 Jan 2025 08:45:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764093 A company-led debt-to-equity conversion that increases subscribed capital requires a special resolution of shareholders under Section 62(1)(c) of the Companies Act, 2013 before the resulting equity shares can be accepted for listing. The court treated the conversion as initiated and adopted by the company itself, not as an independent act of the asset reconstruction company, because the company's board resolved to implement the proposal and sought listing of the additional shares. The stock exchange's refusal to accept the listing request for want of the requisite approvals under the listing regulations was therefore justified and sustained. Case-Laws Companies Law Tue, 10 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764093