Creditors

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MANJUNATH V (Querist)
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23 August 2010 Can anyone tell me whether Creditors of a Company include Share Application money.

What exactly constitutes Creditors under the Companies Act, 1956.

Manjunath V

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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23 August 2010 No Share application money is not included in creditor. It is shown under separate heading " Share Application Money" in Liabilities side.
Creditor is outstanding payable to suppliers.

Rajan

Rajan (Expert)
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24 August 2010 No Share Application Money cannot include Creditors under the Companies Act, 1956.

Creditors is not defined under Co's Act.

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