Dear Friends,

I don't know whether this is the correct forum for asking this query. My query is regarding transfer of Liabilities from one group company to another group company.

'X' is a group of companies consisting Company "A" (India), Company "B" (Africa), Company "C" (Singapore).

Company "A" in India is exporting raw material to Company "B" in Africa and export invoices are being raised from Company "A". In Company "B"'s books outstanding liabilities is on the name of Company "A" and payments are also made to Company "A" through Bank Transfer.

Now Company "A" wants "B" to transfer all its liability on the name of Company "C" in Singapore and make payments to them. All the invoices which "B" has received till date are from Exporter company "A".

What is the procedure of doing this liability transfer from "A" to "C" in "B"'s books? What will be the legal procedure to follow or just a letter or instructions from "A" would work.

Also, at the time of bank transfer bank requires copy of the invoice as proof and all the invoices are of Supplier Company "A"'s name. If we transfer money to "C" on behalf of "A", still bank needs an invoice from "C".

Kindly help me in this regard. An early response shall be highly appreciated.

Thanks in advance.

Ajay Singh

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Hello,

I am a mid career IT consulting professional (about 14 years experience) seeking to develop a deep understanding of financial statements. I am not an MBA but have deep understanding of business issues of certain sectors due to my process experience in them (IT, Energy Utilities and Healthcare).

I keen to develop this understanding of financial statements because,

1. Personally - I am interested in investing and want to read financial statements, analyze them and invest in stocks
2. Professionally - To develop a more profound understanding of various businesses, models, capital structures etc.

I need guidance on the path I should follow to develop this knowledge base in Financial statements. Recommendations of books, courses etc would be very useful. Any critique of my intentions would be helpful too.

(Just so you understand the level of my commitment to this task, I can take a sabbatical from work for a few months to develop this knowledge base.)

Looking forward to hearing from you.

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