21 November 2011
Ours is a public limited company, we have one group company regd.as pvt. ltd.company.Directors are same for both companies. One of our Director have credit balance in pvt. ltd .company. and debit balance in public Limited Company . Whether we can transfer tne credit balance lying pvt. ltd. company to Public ltd. company and knock off the same.
If yes how? and implication under IT and Company law. please advise.
CAclubindia
