Continuity of Capital Redemption Reserve
This query is : Resolved
Jay Chakraborty
(Querist)
03 March 2010
For how a long a company that has just come out of BIFR continue to show Capital Redemption Reserve? The same was, however, created a long ago.
CA. B.SRINIVASULU
(Expert)
03 March 2010
Until you capitalise the same. Ie issue of shares against CRR. Or winding up whichever is earlier.
03 March 2010
CRR can be utilised for issuing bonus shares.
or else, such reserves can be used to adjusting / writing off expenses or lossess or intangible assets after obtaining approval from members and high court.
or else, such reserves can be used to adjusting / writing off expenses or lossess or intangible assets after obtaining approval from members and high court.
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