A 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.
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.
''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.''
DEAR SIR ,
THERE IS NO MENTION OF THE UNSECURED LOANS IN THE BALANCE SHEET.
CAclubindia
