Sec 160 of company act

Can anyone solve my problem

A,B,C,D propose their name for directorship in a company A got 50% B got 35% C got 7% and D got 8% vote

A become director as per sec 160 of comany act 2013 every person who propose their name for directorship should deposit Rs.100000/- which shall be refunded if candidate gets elected as a Director or gets at least 25% of the votes in his favor either by show of hands or by poll. A and B got their money refunded and money of C and D forfetied my question is that what will be accounting treatment of forfeited amount Rs.200000 in which head it 'll appear what will be journal entry

 

Replies (1)

should transfer this amount to general reserve account.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
08 October 2026
SALES TELECALLER

HIRE NOVA

Lucknow

Graduate (Any)

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 28 September 2026
Junior Accountant

J S P M & Associates LLP

Pune

B.Com

View Details
Company
16 September 2026
Internal Audit - Team Lead

Consulting & Beyond

Chennai

CA

View Details
Company
15 September 2026
Client-site CA associate

Aditya Muley and Co

Mumbai

CA

View Details
Company
ARTICLESHIP 07 October 2026
Article Trainee/ CMA Trainee

RMA And Associates LLP

New Delhi

CA Inter

View Details