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Investments of 1 director transfer to Fixed asset

Others 237 views 1 replies
Hello Everyone,

Good day to you.

Mr. X is a director invested more than 10cr and also shows the same in B/s for F.y 2017-18 but next year all investments transfer to Fixed assets.

currently this company have 3 directors and as Mr. x investments transferred to Fixed assets that value reduced to 6.5 cr.

kindly suggest if Mr. X can get back his 10 cr investments or he can only claim 6.5cr after rectification.

Thanks in advance
Replies (1)

Is this partner? If single, he has to write off the loss to reserves. What ever this transaction is for trading only. This loss can be shared as per the loss sharing ratio by other directors when it is partnership. 


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