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..
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Price inclusive or exclusive of GST while made entry in P& L Account
- Applicability of GST on Salary Reimbursement Component
- Minimum tax payable to file Updated return
- Dep. as per companies act
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Renovation exp. in flat by family member
- Change Of Karta In Case of Death
- New GST registration for new place of business.
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
CCI
Pro
CAclubindia
