Conversion of Unsecured Loan into Share Application money

This query is : Resolved

CS Mitesh Mehta (Querist)
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16 January 2010 Dear All,

My query is whether Company can convert its unsecured loan into share application money.

If yes whats the procedure.

Kindly send the proforma of letter/documents/resolutions.

My mail ID: meetesh.mehta@gmail.com

Awaiting for your earliest reply.

Thanking you

Bimal Thacker

Bimal Thacker (Expert)
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16 January 2010 also Send the same mail to me on following id
thackerbl@yahoo.in

Rasesh

Rasesh (Expert)
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21 January 2010 An application / request from the person giving unsecured loan to convert the same into shares.

a Board resolution by the company approving the conversion of unsecured loan into share application money.