Regarding cash transaction

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Durga prasad (Querist)
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01 December 2015 One of director of a company bring cash for operations, finally amount was treated as share capital, and the amounts are borrowed funds, whether the transaction is correct.

Amol S Joglekar

Amol S Joglekar (Expert)
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01 December 2015 it is for the director to declare whether the cash brought in is towards borrowed funds or capital OR initially as borrowed funds and then converted to capital.

Durga prasad

Durga prasad (Querist)
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18 December 2015 initially for cash adjustment i.e borrowed personally, and transfer to company , can convert the amount not repaid , into share capital.

Amol S Joglekar

Amol S Joglekar (Expert)
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20 December 2015 Yes, no issues. One may do that.

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