Conversion of Unsecured Loan to equity
This query is : Resolved
01 September 2008
What is the procedure for conversion of unsecured loans to equity capital in case of private limited company?
02 September 2008
Issue and Allotment of shares will be governed by the private limited company's
AOA. It has to be complied with.
AOA. It has to be complied with.
02 September 2008
If the MOA/AOA does not contains anything about the conversion of unsecured loan into equity; what procedure should be followed?
07 October 2008
It is not necessary that AOA should contain the procedure for conversion. I advised that the procedure for allotment of shares as in AOA should be followed, as this is a pvt ltd which could have restrictive clauses if any.
Guest
Guest
(Expert)
23 June 2012
There is no bar for conversion of loan into share capital. You are required to enter into agreement with lender for conversion of loan into capital.
Call a Board meeting and pass a resolution and file Form-2 and form 3 within 30 days.
Regards
There is no bar for conversion of loan into share capital. You are required to enter into agreement with lender for conversion of loan into capital.
Call a Board meeting and pass a resolution and file Form-2 and form 3 within 30 days.
Regards
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
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- Reopen of assessment proceeding
- Management System (IMS)
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Experts need help
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- FTS Taxable under 115A
- Rental income gst and it purpose
- 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
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
CAclubindia
