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?
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?
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.
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