A private Limited company going for Fast track exit as no operations in the company for more than 2 years.
But section 560 mandates for no assets and liabilities in the company to qualify for fte. but this company is having share capital reserves and surplus also cash in hand and debit balance in profit and loss account.How should such a company show nil balance sheet? Kindly advice.
Fast track exit
BHAVINI SHAH (Company Secretary) (193 Points)
18 February 2013