A pvt ltd which Balance sheet showing share application money pending for allotment on 31-03-2012 can company without refunding the same convert its share application money pending for allotment into unsecured loan.
please do let me know, if yes than under which provision it is dealt.
08 October 2013
But Aryan ji, where it is mentioned that a company can not convert so, as per my knowledge company act is silent on this issue so where can I fetch the relevant provisions
CAclubindia
