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Payment to creditors

This query is : Resolved 
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(Querist)
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.
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CA AnKiT BoHrA (AB)

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CA AnKiT BoHrA (AB) (Expert)
03 May 2015 i didnt got ur querry
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