cash withdrawal

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elango rk (Querist)
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08 August 2008 Can i withdraw cash from a director cum shareholder a/c.for his individual a/c.(for Bank SB A/c.Cash Depsoit)
as like in partnership firm partners a/c.?

or

I have to issue a cheque for that.

experts answer immediate need.

elango rk

elango rk (Querist)
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08 August 2008 URGENT

CA Naveen Kumar Agrawal

CA Naveen Kumar Agrawal (Expert)
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09 August 2008 u r not clear to me. wht exactly u want to ask

CA RAMESH KUMAR AHUJA

CA RAMESH KUMAR AHUJA (Expert)
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09 August 2008 The director can not withdraw cash from the company's bank account for his personal requirement or cash deposit in personal savings bank account like withdrawls made by a partner from the firm. Basically, partner can withdraw from the bank account of the firm on account of his capital account with the firm but the same is not true with the company as the director may be a shareholder but the capital belongs to the company only.

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