Issue of shares against deposit money
This query is : Resolved
02 March 2015
As per the provisions of Companies Act 2013, Unsecured loan i.e. deposits shown in the balance sheet as on 31.03.2014 is required to be repaid within 1 year from commencement of this Act.
Can I issue shares against the deposit money to the respective lenders before 31.03.2015? If yes, what is the process?
Or, Is it necessary to return the deposit money?
Can I issue shares against the deposit money to the respective lenders before 31.03.2015? If yes, what is the process?
Or, Is it necessary to return the deposit money?
02 March 2015
yes it is possible, first transfer deposit money to share application money a/c and issue shares on private placements or right basis.
as per rules it is necessary to repay deposit amount
as per rules it is necessary to repay deposit amount
02 March 2015
As the whole process is to be completed before 31.03.2015 and the deposit money is kept in the Company bank Account, Is it necessary to transfer the same in a separate bank account for share application money?
What are the e-Forms to be filed to ROC for such transfer of deposit money a/c to share application money a/c?
What are the e-Forms to be filed to ROC for such transfer of deposit money a/c to share application money a/c?
02 March 2015
No its not necessary to transfer money to separate bank account
no forms are required to be filed regarding such transfer because its internal accounting matter or adjustment
no forms are required to be filed regarding such transfer because its internal accounting matter or adjustment
03 March 2015
dear komal you cany convert deposit into sharecapital under ca 2013 .
if ypu want to cnvrt deposit of 31.03.2014 then u have to allot before 30.05.2014
for more clarificationsent me.mail at
csdiveshgoyal@gmail.com
i will mail u cmplt process.
i have written article.
if ypu want to cnvrt deposit of 31.03.2014 then u have to allot before 30.05.2014
for more clarificationsent me.mail at
csdiveshgoyal@gmail.com
i will mail u cmplt process.
i have written article.
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Regarding TDS Applicability For Director Remuneration
- Annual return in Gst
- Value of property in capital gain
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
