Transfer of unsecured loan into equity share capital
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 June 2012
can in a ltd. co. unsecured loans can be transfered into equity share capital.
Ajay Mishra
(Expert)
18 June 2012
Hi
Yes, they can do so. But for that you should enter an agreement with lender for subscribing and converting its loan into equity. After that you comply the provision of further allotment under section 81(1A) of the Companies Act, 1956.
Regards
Yes, they can do so. But for that you should enter an agreement with lender for subscribing and converting its loan into equity. After that you comply the provision of further allotment under section 81(1A) of the Companies Act, 1956.
Regards
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