share capital
This query is : Resolved
07 April 2009
can a private ltd co. can convert its creditors in the share capital to allot them shares
07 April 2009
A private limited company can do it. But before doing so you have to get a letter from the creditor that he is agreeing for investing for ____ no of shares and the application money being _________ can be transfered from his loan account. Further in the letter he should be enclosed the application form. Please get application form also duly filled in.
Then conduct a board meeting and allot the shares to them. File Form 2 accordingly.
Then conduct a board meeting and allot the shares to them. File Form 2 accordingly.
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