Write off of P&L Debit Balance

Subrahmanyam (Querist) 24 August 2008 This query is : Resolved
Can anyone kindly tell me if i can write off P&L Debit balance in a company's balance sheet from share premium account. is it permissible under any Act.

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ARVIND JAIN (Expert) 19 September 2008
NO NOT AT ALL.

Adv.Shine Thomas (Expert) 16 October 2008
It is not possible.

Subrahmanyam (Querist) 16 October 2008
But i believe that this has happened. kindly refer to some of such transaction of restructuring that were reported at BSE.

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