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Consideration for the purchase of shares

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 December 2012 Dear Members,

Whether the consideration for the purchase of shares can be paid in Cash.
If no, why?
Please guide..

Thanks in advance
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Ajay Mishra

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Ajay Mishra (Expert)
31 December 2012 Hi

Yes, you can paid consideration in cash for purchase of shares. But as per new rule you can made purchase shares only upto Rs. 50000/- in a financial year.
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Querist : Anonymous

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Querist : Anonymous (Querist)
23 January 2013 Dear Sir,
Kindly refer the rule mentioned by you and please elaborate.
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Ajay Mishra

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Ajay Mishra (Expert)
23 January 2013 Transaction is restricted BY RBI for cash.
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Querist : Anonymous

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Querist : Anonymous (Querist)
26 January 2013 Dear Sir, you mean to suggest that such a transaction is completely not allowed. What if any pvt ltd company has done such a transaction.
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