Dear Sir/Madam,

A profitable mining proprietorship (FIRM) business with long lease on the firm wants to be a listed company through reverse merging with a listing company against stock swap model. The present proprietor wants to take a major stake in an existing listed company by transferring (subject to approval of concern authority) its lease hold assets by triggering open offer and takeover the management control from the existing promoters of the listed company and to run by proprietor only.
With the above background i need the following clarifications:

1. Is it possible to transfer the assets and liabilities of the proprietorship firm after taken the valuation report as per law to an existing stock exchange listing company with different objects clause (not as proprietorship firm) against taking stake in such listed company? if yes what are the statutory compliances to be fulfilled?
2. The existing proprietorship firm is highly profitable company and the majority of the assets are government leased out mines. In such case what are the income tax obligations will arise while transferring the leasehold assets?
3. Any GST and stamp duty will be paid on this transfer of assets.
Hope the given information is sufficient to give an advise.
Thanks and best regards

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