DECLARATION OF SOLVENCY, EMBODYING A STATEMENT OF ASSETS AND LIABILITIES
Name of the company:-
Presented by:-
Declaration of Solvency
We _____________ , of ____________ and of ___________ being all the /majority of the directors of _________ do solemnly affirm and declare that we have made a full enquiry into the affairs of this company and that having done so. we have formed the opinion that this company has no debts/will be able to pay its debts in full within a period of" months from the commencement of the winding up. And we append a statement of the company's assets and liabilities as at ___________ being the latest practicable date before the making of this declaration. And we make this solemn declaration believing the same to be true.
Solemnly affirmed and declared at ________ the _______ day of _______ before me.
Signatures Commissioner for Oaths or Notary Public or Justice of the Peace.
Statement as at ______ showing assets at estimated realizable values and liabilities expected to rank.
Assets
Book value estimated to realize
1. Balance at Bank
2. Cash in hand
3. Marketable Securities
4. Bills Receivable
5. Trade Debtors
6. Loans & Advances
7. Unpaid Calls
8. Stock in trade
9. Work in progress. viz.,
10. Freehold Property
11. Leasehold Property
12. Plant & Machinery
13. Furniture, fittings, utensils, etc.
14. Patents, Trade Marks, etc.
15. Investments other than Marketable Securities
16. Other property, viz.,
Total
Liabilities
Estimated to rank for payment (to the nearest rupee)
1. Secured on specific assets, viz,
2. Secured by floating charge(s), viz.,
3. Estimated cost of liquidation and other expenses including interest accruing until payment of debts in full
4. Unsecured creditors (amounts estimated to rank for payment)
a. Trade accounts
b. Bills payable
c. Accrued Expenses
d. Other liabilities
e. Contingent Liabilities:
Total _______
Total estimated value of assets Total liabilities
Estimated surplus after paying debts in full Remarks
Dated: -
'The period to be filled in should not exceed 3 years.
Rs ______________ .
Rs ______________ .
Rs ______________ .
Signature Directors of the Company
