bhavik mehta (C.A.) (526 Points)
12 November 2010hello,
I m preparing a directors report & company is on the way of winding up. So, I had put the following note in directors report .
CA Lokesh Pokharna
(CA (Ahmedabad Bhilwara Chittorgarh))
(4128 Points)
Replied 12 November 2010
IF CO. IS ONLY THINKING ABOUT THN U CN INCLUDE A DIRECTOS OPINION IN DIRECTORS REPORT , & IF U HAS STARTED / COMITTED ANY STEPS IN THIS REGARD THN U SHOULD MENTION THIS STEPS.. AS-1 WILL APPLICABLE
Ronak
(Chartered Accountant)
(55 Points)
Replied 12 November 2010
If it is decide by the Directors to wind up the Company then you can include a note saying :
As the Company has been incurring losses for past several financial years it would
not be feasible to continue the Business of the Company and hence the Company is considering
the option of going into voluntary liquidation.
Also check if the Co. has accum. losses and if CARO is applicable, give a note in the Auditor's Report as well.
bhavik mehta
(C.A.)
(526 Points)
Replied 12 November 2010
thnaks ronak,
can you pls also tell me the in case of all the losses are transferred to General reserve a/c then Note in CARO is required......?????
Ronak
(Chartered Accountant)
(55 Points)
Replied 12 November 2010
bhavik mehta
(C.A.)
(526 Points)
Replied 15 November 2010
thnks, i'll surely contact you further if any other suggestions are required,.
CAclubindia
