Repayment of Loan by issuing equity shares
This query is : Resolved
yogesh mahajan
(Querist)
11 January 2010
Dear Madam/Sirs,
Can we repay an existing loan by issuing equity shares to the lenders?
Whether this would govern under provisions of payment of loans otherwise than account payee cheque/Demand draft?
Thanks in advance.
Can we repay an existing loan by issuing equity shares to the lenders?
Whether this would govern under provisions of payment of loans otherwise than account payee cheque/Demand draft?
Thanks in advance.
CA Pramod Jain
(Expert)
11 January 2010
u can repay it i think section 269t will apply to this case better u do this trf through bank ie first u repay the loan through chq/dd and then get this amt back as share capital through chq/dd.
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