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liquidation of company

study pind   24 August 2019

study pind

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ABC Lad went into liquidation on 31st October, 2017. The liquidator realised 33,00,000 by disposing
of the e as, it does not include the amount realised by sale of securities held by the secured creditore,
The share capital of the company consisted of 5,000 equity shares of ? 100 each which was fully
paid. The secured creditors amounted to 35,000 and they realised 340,000 by the sale of securities.
Preferential creditors for workmen's dues amounted to? 6,000 and unsecured creditors amounted to
72,30,000, Debentures having floating charge on assets of the company amounted to 32,00,000. The
liquidation expenses were ? 4,000 and liquidator's remuneration was ? 8,500. Prepare Liquidator's
Final Statement of Account,
(Ans. Total of Liquidator's Statement of Account? 3,05,000; Unsecured Crs, except Pref. Creditors,
will get 86,500.1

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