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Please clarify regarding Issue of Shares: 1. A Pvt. Ltd. company dealing in Multi media business 2.The remittance received in US$ in August 2013. 3. The company has given declaration to the bank on receiving of remittance – the remittance is received as investment by NRI on non repatriation basis. 4. The company has accounted above amount as Unsecured Loan in its Books of accounts. 5. Now, the company desire to convert Unsecured Loan into Equity Shares. 6. Please clarify: Can the company issue Equity shares on conversion of unsecured Loan? If yes What are the formalities need to comply?

Compliances

Posted By: Sunil kumar agrawal 9 year(s) ago

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


Expert    Ankit Singhi

In this regard follow external commercial guidelines

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