07 January 2019
A company incorporated on 20th December, 2018 and after some days it purchased a dealership of any automobile company and made payment of Rs. 1,50,00,000/-. That time Company has no Bank Account because it was in opening process. That payment done by the individual account of directors/shareholders. What are the impacts of such transactions ?? What consequences company will have to face in future ?? How to set off this amount or it will be considered as Pre-incorporation expenses ??