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Write off of P&L Debit Balance

(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.
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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