Conversion of Share Application Money to LoanFrmShareholders

This query is : Resolved

Mihir (Querist)
Follow

04 September 2008 Is it possible to convert at the same time share application money to Share Capital and loans from shareholders.

If yes what are the accounting and reporting implications under companies act.

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
Follow

04 September 2008 Are you asking whether the application money and loans can be converted into share capital? It is possible, by following appropriate company law provision applicable based on the class of companies. You have not mentioned those details.

Mihir

Mihir (Querist)
Follow

30 September 2008 Actually I was asking that can a company at the same time convert the Share application to Share Capital and also convert it to loans from shareholders

Taranjit Singh

Taranjit Singh (Expert)
Follow

06 October 2009 Hello, is this an old query still pending? You can send me a Pm if yes....I m trying to take all old pending queries in Accounting Forum......Thanx.

Taranjit Singh

Taranjit Singh (Expert)
Follow

06 October 2009 Hello, is this an old query still pending? You can send me a Pm if yes....I m trying to take all old pending queries in Accounting Forum......Thanx.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now