Conversion of director's a/c to share capital
This query is : Resolved
11 February 2012
There are 3 director's in company (Co. is Pvt Ltd). They given loan to company on equal proportionate.
Director's are the promoter of the company.
They want to convert the loan amount to paid up share capital.
Can this is possible.If there, then tell me the procedure.
The major transaction of loan is through bank only.
Kindly guide me.
Director's are the promoter of the company.
They want to convert the loan amount to paid up share capital.
Can this is possible.If there, then tell me the procedure.
The major transaction of loan is through bank only.
Kindly guide me.
11 February 2012
Yes this can be done..
Pass a Board Resolution and convert the loan amount into Share Capital..Issue the Shares accordingly..
Pass a Board Resolution and convert the loan amount into Share Capital..Issue the Shares accordingly..
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