Easy Exit Scheme 2010
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 June 2010
Sir,
We have a defunct company as our client.
In its balance sheet, there are only Loans & Advances to Shareholders(assets) and Reserves & Surplus.
I want to know if we apply for EES,2010.
How this asset (Loans & Advances) will be discharged before liquidation ?
We have a defunct company as our client.
In its balance sheet, there are only Loans & Advances to Shareholders(assets) and Reserves & Surplus.
I want to know if we apply for EES,2010.
How this asset (Loans & Advances) will be discharged before liquidation ?
02 July 2010
There is no clarification in the matter by the MCA, till date.
However, on the basis of the informal discussion I had with some of the practising CS, the word is that nil assets and nil liabilities is required. If there are loans and advances or any other assets, the ROC will not accept or will not process or will not remove the name of the company from its register.
However, on the basis of the informal discussion I had with some of the practising CS, the word is that nil assets and nil liabilities is required. If there are loans and advances or any other assets, the ROC will not accept or will not process or will not remove the name of the company from its register.
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