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ECB convesion

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(Querist)
18 September 2007 What are the income tax implecation while converting ECBs into equity shares?
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sivasankar

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sivasankar (Expert)
19 September 2007 Going through the provisions I do not find any implication because loan is converted into equity.
Instead of repayment of the ECB shares are alloted.
If I am wrong send me a PM.

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