A business have a two directors both have some contribution as capital in the business, 1st director contribute 85000/- and 15000/- the 2nd one.
After few years the 2nd director cheat the business and make lossess in that run away, no any step taken by the 1st one. His contributin is in the accounts ei. rs. 15000/-, how it is deal with. And after one year another director come in to take the 2nd director's place without any contribution to the business.
Pls tell me how this matter is shorted out.
CAclubindia
