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striking off of a pvt. co

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ashish gupta (Querist)
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25 July 2010 MY QOUERY IS THAT IN STRIKING OFF OF A CO., WE HAV TO ATTACH BALANCE SHEET OF NIL, SO IF CASH AND BANK BALANCE AND UNSECURED LOAN AND SHARE CAPITAL IS SHOWING IN BALANCE SHEET, HOW WILL I MAKE IT NIL, KINDLY PROVIDE ME YOUR EXPERT HELP...........PLZ PROVIDE ME THE DRAFT OF "AFFIDAVIT FOR WAIVE OF UNSECURED LOAN".

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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25 July 2010 Close the bank account and receive cash. This cash and the existing cash balance may be used to pay unsecured laon. Then in the balance sheet in the liability side only two heads namely share capital and unsecured loan (balance if any after paying the cash as I said above)only will appear. This is represented in the asset side by "Miscellaneous expenditure and losses". The balance sheet drawn as above is what is called "NIL" blance sheet for the purpose of striking off u/s 560 of the companies Act,1956.

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