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a private company has unsecured loan of Rs.3cr. recd from its Directors and members at 31.03.14.Now how should we tackle this in terms of new act. Can we allot shares against this money, if yes how we will follow the procedure prescribed for private placement which says receipt of money must be through cheques and how we will issue offer letter etc.

Private placement

Posted By: Anita 10 year(s) ago

This question has been closed if you want to answer,you have to re-open.


    Manouj Agrawaal, FCA, Partner

Allot the shares as on 31.3.2014 itself.

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Expert    Ankit Singhi

I think for the money received before `1st April 2014, you can just do the allotment

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