A Company is closing under Fast Track Exit Scheme. It has only Land left in the Assets. It wants to transfer the land to its shareholders, but shareholders have no cash to pay. Nor it wants to transfer the land to any other party than shareholders.
How can it transfer the property to shareholders without cash consideration.
Kindly give suggestions.
If there are no other liabality in the company at the time of closure, then all teh assets of the company will be transfered to its shareholders in the percentage of their shareholding.
T R SOOD & CO
New Delhi
CA Inter
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CAclubindia
