Shares / bad debt / writeoff in pl or capital a/c

Sanjay (Director) (154 Points)

29 May 2012  

 

Hello,
 
An Individual purchased shares of an Unlisted Ltd company 12 to 15 Years ago.
 
Co. had closed its business since last 5 Years. No dividend.
 
I want to write off the investment into bad debts.
Can this be done ?
 
If yes, what is the procedure.
Pls advice.
 
Thank you in advance.
 
Best regards,
Sanjay