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of <h1>Companies Can Settle Genuine Debts with Share Allotments u/s 75(1) Without Cash Exchange.</h1> The circular addresses the allotment of shares by a company to settle a genuine debt owed to an individual. It clarifies that such an allotment complies with section 75(1) of the Companies Act, even if no actual cash exchange occurs. The key requirement is that the debt is liquidated to the extent of the value of the shares. The circular revises previous guidance, emphasizing that shares can be considered allotted for cash without a physical cash transaction, provided the debt is genuine and equivalent to the share value.
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