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repayment of loan

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(Querist)
25 May 2011 the company had taken a unsecured loan of rs 2500000 from two individual but during current year they have been issued shares of the company to set off loan at face value. does this attract provision of section 269t or not? suggest
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CA MANOJ GUPTA

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CA MANOJ GUPTA (Expert)
25 May 2011 THIS WILL AMOUNT TO REPAYMENT OF LOAN OTERWISE THAN BY WAY OF A/C PAYEE CHEQUE /DRAFT

CA MANOJ GUPTA
JODHPUR
09828510543

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