Quiz for the week (24 Aug 2026) :
Mamta Industries (P) Ltd is engaged in manufacturing activity. The Board consisted of 9 directors. The company appointed an internal auditor, who found that one whole-time director had embezzled Rs.20 lakhs from the company. The Board filed a suit for recovery of the amount from the director. During finalization of accounts, the company management wants to write off the amount due though the amount could be recovered from the director. Is it valid to write-off the amount due from the director when the matter is pending before the court
Share your thoughts on or before 31.08.2026.