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Nupur (Querist)
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19 September 2014 Sir, i have a company newly incorporated having share capital of Rs.100000 and 3 directors. All the 3 directors have spent some amount of money in cash for meeting business expenses of company as company had no cash of its own.
My question is how can i introduce this amount of money in company without
attracting Sec 269SS as all the payments made are exceeding Rs.20000.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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19 September 2014 since these take form of loan only sec 269 SS is applicable any how

Nupur

Nupur (Querist)
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19 September 2014 that means i have no option left

Nupur

Nupur (Querist)
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20 September 2014 can i accept it as share application money and account it n move further

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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22 September 2014 no u cannot take it as share application money since no shares were issued and roc was not informed in time so there is njo option left with u.

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