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Easy Exit Sceme

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18 December 2010 One of our company client have the share capital Rs.1,00,000/- and Reserves Rs.69,00,000/- in the Liability side and On the Asset side we have Bank Balance amounted to Rs.70,00,000/- and also company is not disqualified from EES as per conditions mentioned in the circular of EES in this situation I have some queries
1 Can company go for Easy Exit Scheme?
2 If YES than when company pay the amount showing in Bank amounted to Rs.70,00,000/- to the shareholders than should it be considered as dividend to the shareholders.
3 In the above process what is the Tax and Company Law implication?

Kindly suggest me on the above matter
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CA Ayush Agarwal

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CA Ayush Agarwal (Expert)
18 December 2010 https://www.caclubindia.com/experts/regarding-easy-exit-scheme-543980.asp
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