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Repayment of Loan by issuing equity shares

This query is : Resolved 
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(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.
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CA Pramod Jain

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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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