Payment to creditors
This query is : Resolved
27 April 2015
Sir,
Can advance for property standing in books as on 31st March be given to a creditor in lieu of his outstanding dues ?
Facts are : The Co. has closed its business and is in a cash crunch. It has "Adv for Property" (given to a builder) standing in books as on 31st March, but this property is still not registered in its name. Can this be used to settle its Creditors ?
Kindly answer my query.
Can advance for property standing in books as on 31st March be given to a creditor in lieu of his outstanding dues ?
Facts are : The Co. has closed its business and is in a cash crunch. It has "Adv for Property" (given to a builder) standing in books as on 31st March, but this property is still not registered in its name. Can this be used to settle its Creditors ?
Kindly answer my query.
03 May 2015
i didnt got ur querry
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