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
- Itr 1 processing
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- ITR 2 Short Term gain & Long term gain
- ITR validation error - Balance sheet is not filled
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR returnFY25-26
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR 1: Details for showing Exempt Income
- Registration as Authorised Representative of minor
- Article ship defecit
- Bank Accounts in Balance Sheet for ITR 3
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
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
