shraddha (-) (49 Points)
10 June 2014Dear All,
Suppose i owe Rs.50lacs to party 'A' and party 'B' owes me Rs.48lacs.
A and B are related parties.
Is there any provision In the companies act 2013 restricting me from settling the payables to party 'A' by adjusting receivables from related parties of party 'A' ?
shraddha
(-)
(49 Points)
Replied 10 June 2014
From accounting prospective it will be wrong...
either take a letter from both party if they are ready for these transaction..
because in this case Party A can send u legal notice for their payment dues...
ya you too can send legal notice to party B for their dues and so on the process will move...
CAclubindia
