269t
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 April 2014
Dear Wxpert,
can a company convert its unsecured loan to share capital?Is it violation of sec 269 T.
In my opinion a company can convert becaz it is not repayment but its conversion.
Pls suggest and give your valuable opinion.
Thanks
can a company convert its unsecured loan to share capital?Is it violation of sec 269 T.
In my opinion a company can convert becaz it is not repayment but its conversion.
Pls suggest and give your valuable opinion.
Thanks
Rupesh Jain
(Expert)
19 April 2014
R/SIR
FIRSTLY COMPANY REPAY THE LOAN AFTER THAT ACCEPT APPLICATION OF SHARE AND CHEQUE OF AMOUTN THEN ALLOT THE SHARES.
FIRSTLY COMPANY REPAY THE LOAN AFTER THAT ACCEPT APPLICATION OF SHARE AND CHEQUE OF AMOUTN THEN ALLOT THE SHARES.
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