Conversion of Unsecured Loan into Share Application money

This query is : Resolved 

16 January 2010

Dear All,

My query is whether Company can convert its unsecured loan into share application money.

If yes whats the procedure.

Kindly send the proforma of letter/documents/resolutions.

My mail ID:

Awaiting for your earliest reply.

Thanking you

Bimal Thacker (Expert)
16 January 2010

also Send the same mail to me on following id

Rasesh (Expert)
21 January 2010

An application / request from the person giving unsecured loan to convert the same into shares.

a Board resolution by the company approving the conversion of unsecured loan into share application money.

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