A PVT LTD COMPANY GIVE LOAN OF Rs 7 LACS TO ITS DIRECTORS IN OCTOBER 2019.. COMPANIES PAID UP CAPITAL IS 14.40 LACS. FREE EARNED AND TAX PAID RESERVES Rs 6.50 LACS.. IT HAS NO OTHER LOAN, NO LOSSES, NO ANY LIABILITY UNPAID EVEN IN THE BIGINING OF THE YEAR. IN ASSETS SIDE IT HAS ONLY BANK BALANCE, NO OTHER ASSETS.
ONLY HUSBAND WIFE ARE SHAREHOLDERS AND DIRECTORS BOTH.
CAN THEY TAKE ALL BALANCE MONEY IN BANK AND ADJUST IT WITH SHARE CAPITAL. AS ALL REMAINING MONEY RELATES TO THEM ONLY.
COMPANY IS NOT DOING ANY BUSINESS FROM LAST MORE THAN FIVE YEARS ,HOWEVER ALL THE COMPLIANCES ARE COMPLETE TILL DATE.
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