Unsecured loan convert to equity capital
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 April 2011
Dear Expert
In our Pvt Ltd Company Balance sheet show Unsecured loan from director and relatives approx Rs. 4 Crore and we want to convert to equity capital
Please give details procedures and other related issue like accounting entries roc filling etc
Thanks in Advance
In our Pvt Ltd Company Balance sheet show Unsecured loan from director and relatives approx Rs. 4 Crore and we want to convert to equity capital
Please give details procedures and other related issue like accounting entries roc filling etc
Thanks in Advance
Guest
Guest
(Expert)
23 June 2012
There is no bar for conversion of loan into share capital. You are required to enter into agreement with lender for conversion of loan into capital.
Call a Board meeting and pass a resolution and file Form-2 and form 3 within 30 days.
Regards
There is no bar for conversion of loan into share capital. You are required to enter into agreement with lender for conversion of loan into capital.
Call a Board meeting and pass a resolution and file Form-2 and form 3 within 30 days.
Regards
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