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Payment to creditors

(Querist) 28 April 2015 This query is : Resolved 
Can Advance for property, standing in books as on 31st March be given to Creditors in lieu of their dues ?

Facts are-The Co. in question has closed its business on 31st march and is having cash crunch, but is having "Adv for property" standing in its books, can it be tr to its Creditors in lieu of their dues. The Property is still not registered in its name, only advance has been given.
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Dr J C Vashista (Expert) 30 April 2015
Incomplete information, state full facts and vague query.
Consult a local lawyer.
Guest (Expert) 30 April 2015
Vague query! Discuss the real problem, if there is any.

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