Bhuj Tools Co. Private Limited, was incorporated in the state of Gujarat with an authorised and fully paid-up equity share capital was 20,00,000 equity shares of ₹ 10 each, stood at ₹ 2 Crore. The promoters would not wan

Bhuj Tools Co. Private Limited, was incorporated in the state of Gujarat with an authorised and fully paid-up equity share capital was 20,00,000 equity shares of ₹ 10 each, stood at ₹ 2 Crore. The promoters would not want like to carry on the business anymore and decided to Voluntarily Liquidate the business of the Company. The Company being closely held, the Shareholders of the Company has passed necessary resolution to liquidate the Company and appointed one Parikh as Liquidator. The 20,00,000 equity shares are held by the 4 persons: Tessilis Technology, Italy 15,80,000 P Dave 2,00,000 Shah 2,00,000 Girija Kapadia 20,000 Total number of equity shares of ₹. 10 each fully paid up 20,00,000 The Balance Sheet as on Liquidation commencement date was as follows: Surplus in the Profit & Loss account was ₹ 76,52,277 The Asset side shown as: Bank & Cash ₹ 94,48,300 Short Term Advances ₹ 2,03,977 Total: ₹ 96,52,277 Expenses Paid ₹ ₹ 1. Liquidation Fee 11,62,000 2. Newspaper publications 6,900 3. Prof Fee-FEMA 25,000 4. RoC compliance 11,200 5. GST, Income Tax, Audit etc., 1,77,000 6. Accounting Expenses 17,700 7. NCLT Application Fee 28,000 2,58,900 8. Misc. Expenses 20,500 Total Expenses made 14,48,300 Out of the Assets, Short Term Advances considered not realisable. Based on the above facts and information answer the following questions : Calculate the final amount available for distribution to the shareholders.