Dear All,
I need help regarding ROC Filing. The scenario is given below:
My friend incorporated a "Private Limited" Detective Company in the month of December, 2013.
As per Law he applied for license from State Police Department being a detctive company and till now the license is awaited.
As per Indian CA, 2013 we have to close the books and prepare the balance sheet. But in this case, the company was incorporated with authorized and paid up share capital of Rs.1,00,000/- (10,000 equity shares of Rs.10/-) as per MOA & AOA.
But due to some time delay he was not able to raise the Rs.1,00,000/- fund which he expected from financer as "Loan".
Now the questions is that
1) Is it required to prepare balance sheets even if there was no business ? (I am very confused in this place).
2) His family member has agreed to lend the money amounting Rs.1 Lac as loan and is it possible to deposit in the current account NOW and prepare the statements ?
3) What we have to do for ROC Filing ?
Please help....
CAclubindia
