Issue of shares against deposit money
This query is : Resolved
02 March 2015
As per the provisions of Companies Act 2013, Unsecured loan i.e. deposits shown in the balance sheet as on 31.03.2014 is required to be repaid within 1 year from commencement of this Act.
Can I issue shares against the deposit money to the respective lenders before 31.03.2015? If yes, what is the process?
Or, Is it necessary to return the deposit money?
Can I issue shares against the deposit money to the respective lenders before 31.03.2015? If yes, what is the process?
Or, Is it necessary to return the deposit money?
02 March 2015
yes it is possible, first transfer deposit money to share application money a/c and issue shares on private placements or right basis.
as per rules it is necessary to repay deposit amount
as per rules it is necessary to repay deposit amount
02 March 2015
As the whole process is to be completed before 31.03.2015 and the deposit money is kept in the Company bank Account, Is it necessary to transfer the same in a separate bank account for share application money?
What are the e-Forms to be filed to ROC for such transfer of deposit money a/c to share application money a/c?
What are the e-Forms to be filed to ROC for such transfer of deposit money a/c to share application money a/c?
02 March 2015
No its not necessary to transfer money to separate bank account
no forms are required to be filed regarding such transfer because its internal accounting matter or adjustment
no forms are required to be filed regarding such transfer because its internal accounting matter or adjustment
03 March 2015
dear komal you cany convert deposit into sharecapital under ca 2013 .
if ypu want to cnvrt deposit of 31.03.2014 then u have to allot before 30.05.2014
for more clarificationsent me.mail at
csdiveshgoyal@gmail.com
i will mail u cmplt process.
i have written article.
if ypu want to cnvrt deposit of 31.03.2014 then u have to allot before 30.05.2014
for more clarificationsent me.mail at
csdiveshgoyal@gmail.com
i will mail u cmplt process.
i have written article.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Import license renewal
- Should I report my US salary for January, February, March in Schedule FA?
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
