Dear Friends,
A Private limited company having no operations for past two years wants to file Form STK-2 for voluntary strike off.
Their BS 2020 shows paid up share capital (Rs one lac), Unsecured Loan from Directors, Bank Balance and accumulated losses. The bank accounts will be closed before making an application for strike off.
What are the implications of writing off the unsecured loans of approx Rs 12 lacs? What would be approx tax involved in the process?
Can the shareholders bring in further share capital to pay off the unsecured loan?
Please share your views.
Management Responsibility Letter is the mandatory attachment of the Annual Report? If yes, Pl. specify the source.
