Unsecured loan from related parties
This query is : Open
23 September 2015
IF A COMPANY HAS TAKEN UNSECURED LOAN FROM THE RELATED PARTIES UNDER THE OLD ACT, CAN IT BE CONVERTED INTO SHARE CAPITAL NOW.
Guest
Guest
(Expert)
24 September 2015
Yes. It is possible. It can be converted under the category" Consideration other than cash" but valuation report is not insisted surprisingly. SO DONOT WORRY.
25 September 2015
thanks sir can you pl refer the section, rule or notification where it is mentioned along with the initial process to be started and the Agreement format between the company and the investor
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