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Share capital reg

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(Querist)
06 April 2012 Dear Sir,
Pl clarify the following
Is it possible a company repay the share capital along with profit at the time of voluntary winding up?

i.e. M/s. JKR Pvt Pvt Ltd has stopped its business on 31.03.2011 & it's statement of account is as follows

Share capital is Rs.1000000
Reserves & Surplus(P & L) Rs.500000

Cash Rs. 1500000
Now it has decided to repay the share capital with Profitas it is going to winding up.Is it valid?
Regards,
S.Jegadeesan
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CS Ankur Srivastava

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CS Ankur Srivastava (Expert)
06 April 2012 At the time of winding up the company has to first repay all its liabilities then after what remains is to be divided between its shareholders.
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S.Jegadeesan

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S.Jegadeesan (Querist)
09 April 2012 Thank you so much.So you meant a company can prepare the statment of Account as nil in respect of all the ledger(after settle the liability).Am i correct ?
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