Conversion of Share Application Money to LoanFrmShareholders
This query is : Resolved
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.
If yes what are the accounting and reporting implications under companies act.
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.
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
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.
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.
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