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Conversion of CCDs into equity shares without consent of investor was illegal; register of members was to be rectified

July 16, 2019[2019] 108 580 (NCL-AT)

COMPANY LAW: Where CCDs standing in name of appellant-investor director were converted to equity shares without their consent, conversion was illegal and register of members was rectified by cancelling equity shares in name of appellant purported to be credited on basis of conversion of CCDs

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