We floated our privae ltd company in 2001 with the intension of starting medical transcripttttion, but couldnt due to various factors and landed in to computer hardware.....we havent files the income tax till now ..though we did file sales tax for the past 13 years....we have a CC/OD limit of RS. 30 lakhs with one of the banks secured by one of the directors propery worth 75 lakh, we have creditors whom we have to pay around 15 lakhs. stocks may be around 5 lakhs ..
Average sales shown in sales tax returns are 10 lakhs sales per month.
Since the company is running under loss for last many years we would like to close the same with resonable expenses or sale it to some prospective buyers if you can suggest where to look..are looking at a decade old ready made company.
Please suggest.
Thank you
CAclubindia
