At the timing of filling "Form FTE" for striking off the Company name under Fast Track Exit Scheme, 2011, the field "Reserve and Surplus" was required to be field. I was writing Rs. 1,00,000 in that field but the form is not accepting and a message is appearing "Reserves and Surplus must be equal to zero". However, in the aforesaid company, it is not possible to make the Reserves zero.
Plz give the solution.
Thanks in advance.
I think Fast track exit scheme is applicable only for comapnies which had not done any business.
Can a company having Rs 90000 as Preliminay exp, Rs 50000 as cash in hand and Rs 140000 as share capital be wound under Fast track exit scheme?? Read more at:
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
