Transfer of cash
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 September 2011
Pls help:
Mr.X is a director of a company. the company has 2 directors (himself and his wife). its a fake company and has a cash balance of rs. 35 lakhs. also has a balance in loan (liability)in his name of rs. 50 lakhs. His personal a/c has a negative cash balane of rs. 20 lakhs.
can he transfer cash from company to his personal a/c?
what else he can do?
pls suggest some opinion?
Mr.X is a director of a company. the company has 2 directors (himself and his wife). its a fake company and has a cash balance of rs. 35 lakhs. also has a balance in loan (liability)in his name of rs. 50 lakhs. His personal a/c has a negative cash balane of rs. 20 lakhs.
can he transfer cash from company to his personal a/c?
what else he can do?
pls suggest some opinion?
10 September 2011
He can show loan from the company or Remuneration whatever applicable as per you business status.
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