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Allottment of equity share

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(Querist)
19 May 2012 My company is a public limited company and want to allot share to its creditor (also a public co.) with regards to material purchased from it. Whether it is lawful to issue equity shares for purchase (credit) of material. if yes, tell me whether this treated as allotment for cash or other than in cash?
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Ajay Mishra

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Ajay Mishra (Expert)
20 May 2012 Hi

Make a fresh agreement with creditor against such purchase and making it as member of the company.


Regards
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gauri gupta

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gauri gupta (Querist)
22 May 2012 thanks sir, cud u plz provide me copy of such agreement, if u have.
also tell me whether this allottment will be treated for cash or other than cash?
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