Coversion of Loan into Share Application Money
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 June 2011
Is it possible to convert a loan into Share application money by a pvt. ltd. company . What are consequences if it done so.
Sunil Kr. Sanganeria
(Expert)
02 June 2011
If you want to conver loan into share applicatiom money for the purpose of allotment of share, you can do so. You have to:
Pass Board resolution.
obtain a letter that the person want to convert his loan into share application and ready to take shares at the agreed price.
Pass Board resolution.
obtain a letter that the person want to convert his loan into share application and ready to take shares at the agreed price.
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