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advance against share capital

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Hareen Bhalla

Hareen Bhalla (Querist)
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14 October 2008 whether a company can accept advance against share capital even if its authorised capital is fully paid up ?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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14 October 2008 No.

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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14 October 2008 Advance for what?

Hareen Bhalla

Hareen Bhalla (Querist)
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15 October 2008 It is the violation of which section of the Companies Act 1956 ?

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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15 October 2008 PLease clarify the advance is from whom and against which company's capital

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