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Share application money

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(Querist)
14 May 2013 Dear Experts,

Pls guide me whether share application money can be converted to loan, in case of a pvt ltd company???

Awaiting reply at the earliest.

Thanks & Regards,
Himani Shah
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Paras Chheda

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Paras Chheda (Expert)
15 May 2013 Application money pending allotment should be treated as current liability as "Share application money pending allotment" and cannot be show under loan as per good accounting practice.

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