I need a bit of clarification, I got mind block…
I new to create a new company where it MUST have 500 shares issued @$1,000 each i.e. share capital of $500,000 to be established. and must have $500,000 in the bank. [That can be withdrew after the company creation]
There are 2 shareholder with 250 shares each.
One share holder paid all the monies he borrowed from his friend fixed interest $10,000, to get the company started however he withdrew 3,55,000 a week after the company was registered inclusive of $5,000 interest.
One shareholder did not contribute anything however he took 50,000 temporary loan.
Where shall I start