Urgent please

Debit car

Credit share capital  face value of share

credit share premium 

Disclose in Balance sheet as foot note that such no of shares ofsomuch issued to director  at a premium of Rs so much for a consideration other than cash 

Thanks can we allot shares on premium to director ? and second question is one of our co. director want to resign and he is asking for his capital contributed money but in our co. we have only two director and one of them is resigning.. pls tell me how to return his capital contributed money and because there is no minimum direcot in pvt. Ltd. Co. as per companies act so what will be the procedure ahead. Should we appoint new person as director or what will be implication on co. if there is single co. will we should shut company and start proprietor ship firm?

Now Pankaj wait for experts to answer namely the practising company secretaries we need to have minimum 2 directors for Pvt Ltd co other procedures let experts answer you