Hello,
I want to wind up a P. LTD. company in which business is not started since incorporation under "Easy Exist 2010" scheme. The co. is 10 year old & Paid up Capital is Rs. 1.00 lac.
The Co. had a carry forward loss of Rs. 12,000/- & invested Rs. 80,000/- into shares of another P. Ltd. (80 shares of Rs. 1000/- each)
The company in which 80,000 was invested, is also loss making.
Bal. 8000/ is in bank
My question is:
How should I proceed to winding up on the company.
What should I do with the 80,000 investment ?
What should I do with the 8,000 bank balance ?
If I sold those 80 shares at a discounted price of 900/-, I would have:
Carriy Forward loss 12,000
Loss on sale of share 72,000
Winding up process exp. 13,000 total comes to 97,000/-
Cash in hand remain 3,000/-
How to dispose off cash balance?
Pls advice.
Thx
Sanjay
CAclubindia
