manish (pcs) (30 Points)
15 July 2010A company having authorised Cap Rs. 5 Lacs & Cash Balance Rs. 5 Lacs. Now If a Company wants to get the benefit of Easy Exit Sceme 2010 then what would be the Position of Cash Balance in The Company's Balance Sheet, Will the Same should be distributed amongst members???
Kindly give the suggestions for the above.
Rasesh
(CS CWA MBA (Fin) B.Com LL.B (Spl))
(6501 Points)
Replied 15 July 2010
Agree. The company can avail Exit under the scheme.
Once the name is strick off, the Directors should first use the cash for paying out the unsecured loans and the balance should be distributed amongst the equity shareholders in proportion of their equity.
palak
(cs)
(385 Points)
Replied 15 July 2010
''Once the name is strick off, the Directors should first use the cash for paying out the unsecured loans and the balance should be distributed amongst the equity shareholders in proportion of their equity.''
SATISH CHANDER
(C.A.)
(238 Points)
Replied 07 August 2010
DEAR SIR ,
THERE IS NO MENTION OF THE UNSECURED LOANS IN THE BALANCE SHEET.
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