Conversion of Loan into Share Capital

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..... Conversion of Loan into Share Capital
Query (Issue) Started By: - CHITRA RAGURAM Dated:- 16-12-2010 Last Reply Date:- 16-12-2010 Other Topics
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Indian Laws
A Company received lo .....

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..... an from a person and at a future date it is converting the same into share capital. Whether it can do so. If yes for calculating the due date of filing Form 2, the date which has to be considered is t .....

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..... he date of receipt of loan or date on which loan is converted into shares. Reply By DEV KUMAR KOTHARI: The Reply: Shares can be allotted after obtaining share application with request to adjust the .....

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..... loan advanced by applicant The date of allotment of shares will be the date relevant for entry of credit to share capital a/c, entry in register of members and date for filing return of allotment. .....

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..... Adjustment of loan against share application money , on request of loan creditor cannot be called 'repayment of loan' by borrower , for the purpose of S. 269T. however, the AO may raise a dispute in t .....

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..... his regard.
Discussion Forum - Knowledge Sharing .....

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