ABC LTD. committed default by failing to file balance sheet and profit and loss account. Proceeding have been initiated against a non executive director. However, he contended that he has regisned before the date of default. Whether the contention of the ex-director be taken into account?
A demerger scheme was approved by the shareholders, secured and unsecured creditors. The scheme was neither in violation of any law nor against public interest. however, accounting standard 14 was not adopted. Whether the scheme can be sanctioned?
CAclubindia
