Repayment other than account payee cheque sec 269 t

 “C” private company took loan from its shareholders “S” by account payee cheque in February 2017. Now in April 2017, the repayment was not done by account payee cheque or through banking channel,  but some shares of  another Private Limited “P” (which “C” has been holding ) was sold for the said amount. Whether this is violation of Section  269T or any other section or it is valid payment or it has to be reported somewhere else and there is problem in company law or income tax law or etc?