Last Updated on 03/17/2023 by Sophia

Chattu co.ltd with a paid up capitalof 5000 equity shares of rs 100 each fully called up went into voluntary liquidation.There was a calls in arrear of rs 20000 in share capital.The creditors of the company were rs 150000 secured creditors,rs 250000 unsecured creditors and rs 50000 preferential creditors. The assets realised rs 600000 and the liquidators expenses rs 32000 and he was entitled to remuneration of 3% on assets realised and 4% on amount distributed to shareholders.The calls in arerear are duty collected.