Status of Company's accounts which was struck off u/s 560
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 July 2011
Company had been struck off u/s 560 under easy exit scheme and audited books shows that it has not been closed showing capital as well expenditure to the extent not written off.
Is it deemed desolved ? since no liability or assets exit in the books of accounts ?
Now company has made petition u/s560 (6) to reinstate the same. What will be legal status of share capital before application and after application u/s 560(6) ?
Is it deemed desolved ? since no liability or assets exit in the books of accounts ?
Now company has made petition u/s560 (6) to reinstate the same. What will be legal status of share capital before application and after application u/s 560(6) ?
Guest
Guest
(Expert)
07 July 2011
Yes, the company stands dissolved. After struck off Book of Accounts will have NIL Balance.
If company is been reinstated then the company's accounts will have the same balances as it has before application for striking off.
If company is been reinstated then the company's accounts will have the same balances as it has before application for striking off.
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