Conversion of creditors into shares

Dear Members

Sundry Creditor of Rs. 3 Lacs to be converted into Shares

Is it Possible

If yes, then procedures, Resolutions, and necessary forms to be filed?

 

Replies (1)

It will  be better to make payment to creditors and then take share application money from  them.  In case  of public co. follow Unlisted Public Cos. (Preferential Allotment) Rules 2003.

 

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