IMP ////// WHAT TYPE OF INCOME IT IS ?????????

HI ALL

Querry

Foreign Comapny invested in an Indian Compoany in the shape of share application money.

now, Foreign comapny want its money back but Indian Company is not in a condition to give back the share application money to foreign company.

foreign company now saying waive the share application money because its very low amount for foreign company.

now the question, is the waived money become the income of indian company? how can Indian Company treat it, like under what head?

does the indian company will treate it as gift, capital gain, income from other sources ? what actly or in which account it will come of foreign company & Indian Company ? 

Regards,

Sachin