one person is having property valued at 50 lac.
he wants to get property in company in exchange of shares
can i issue him shares of 50000 shares of my company of rs 10 at premium of 90 for the same ?
it will be as follows.
my company abc ltd -> buys property of rs 50 lac from mr abc.
mr abc subscribes 50000 shares of my company of face value 10 at premium of rs 90 ( total 100)
so 50000X100=50 lac
can above adjustments can be done ?
please note that the actual funds transfer will NOT take place as company is not having funds , and person wants to get property in the company for shares to be issued to him