SUNIL KUMAR JAIN
(PRACTISING COMPANY SECRETARY)
(187 Points)
Replied 22 September 2009
I have seen your query only today.There is no bar for conversion of loan into share capital.You are required to obtain a reuest letter from the lender of loan.call a Board meeting and pass a resolution and file Form-2.In case there is a Shareholders Agreement or some other restriction, you are to comply with the same.
Regards,
S.K.JAIN
sunil K. jain & associates,,
Mobile;9810104162
chirag ahuja
(Partner)
(31 Points)
Replied 16 December 2009
Whether it will attract Sec 269T of IT Act
RAKESH MISHRA
(MANAGER)
(25 Points)
Replied 11 December 2012
269T is not applicabel since their is no repayment of loan and it since conversion of loan to capital
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