Companies Act, 1956
This query is : Resolved
25 June 2010
Can anyone please explain in which section of the Companies Act, 1956 the meaning for consideration received in cash and consideration other than cash is explained for issue of equity shares?
Ankur Garg
(Expert)
26 June 2010
There is no specific section in company law which cover issue of share for consideration other than cash.
Refer any good law book to know more...
Refer any good law book to know more...
Ankur Garg
(Expert)
26 June 2010
You may also refer my article available at the link below:
https://www.caclubindia.com/forum/article-allotment-of-share-for-consideration-other-than-cash-52680.asp
https://www.caclubindia.com/forum/article-allotment-of-share-for-consideration-other-than-cash-52680.asp
27 June 2010
Thank You sir.
Also would like to ask you if the allotees to the shares are taking over the debts will it be considered as consideration other than cash. Cash was received from the debts in the past.
Also would like to ask you if the allotees to the shares are taking over the debts will it be considered as consideration other than cash. Cash was received from the debts in the past.
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