Contingent liability taken over in Amalgamation

first noted that contingent liability does not apper in balance sheet they show as a footnote.

and i give it ur query answer fully  on tomorrow. please wait

Originally posted by : Deepika Agarwal
	first noted that contingent liability does not apper in balance sheet they show as a footnote.

Deepika is right. It will appear as a footnote to B/s after amalgamtion.... BUT if as on date of amalgamation, that contingent liability loses its nature i.e it become a certain one... you will have to treat that liability as other liabilities at the time of amalgamation... 

agree with faiz ahmed