CA Abhishek Singh
( Author )
19 May 2012
xyz pvt ltd has not done any business since its incorporation. also it does not have its own bank account.
i want to close this company under FTE.
but i m not sure regarding preparing SOA because as per FTE circular assets and liabilites housld be NIL.
preincorporation expenses are 15000 and paid up capital rs.100000.
if i show balance 85000 as current assets & loans and advances then condition of circular not having assets and liabilites gets violated.
I have following two options
1. one of my friends has filed FTE by entring "0" at all places ie. share capital "0".
2. my other friend has filed FTE and he has written 1000000 as share capital, 15000 miscellaneous expenditure not w/off and balance 85000 as dr. balance in profit and loss account.
Experts kindly let me which one is correct or there is some other options ?
Urgently waiting for your reply.