Buy/sell private limited company

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divyesh (Querist)
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05 September 2013 What steps is required for sell of private limited company & whats is the steps on buyer point of view & seller point of view?
Please suggest me on the above.

Ajay Mishra

Ajay Mishra (Expert)
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10 September 2013 Hi

For taking over company following points should be kept in mind:

Sr. No Events Status
1 Obtain Certificate of Incorporation from company
2 Obtain Copy of MOA/AOA
3 PAN of the Company
4 Statutory Registers of the Company
5 Stamps and Common Seal of the Company
6 Minutes Book of the Company
7 All forms filed with ROC and other Authorities
8 Original copy of Balance Sheet & Profit and Loss A/c filed with ROC
9 Certificate from Statutory Auditor for continu/resign from the Company
10 Original Share Certificate to be issued to shareholders of the company
11 Details of Bank Account operated by company
12 Service Tax or Sales Tax Registration documents
13 Details of website address run by company and its ID
14 Letter Head, lease deed, charge documents

Ajay Mishra

Ajay Mishra (Expert)
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10 September 2013
Following steps required after taking over of Company:-

Sr. No Events Status
1 Resignation letter from present director
2 Appoint new directors
3 Transfer of shares of the promoters/director/shareholders to our shareholders
4 Change of Registered Address of the Company
5 File form-32 and 18 with concerned ROC for effecting changes
6 Change of Bank Signatory
7 Appointment of new Auditor's
8 Make necessary changes, if any

divyesh

divyesh (Querist)
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11 September 2013 Sir,

Is their required to prepare valuation report for share transfer or can transfer at face value or at any price? The company is private limited.

divyesh

divyesh (Querist)
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11 September 2013 Sir,

The 89% shares are held by foreign holding company. whats is the steps to follow for that transfer.

Ajay Mishra

Ajay Mishra (Expert)
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11 September 2013 Yes Valuation is mandatory by Charter Accountant.

Ajay Mishra

Ajay Mishra (Expert)
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11 September 2013 For transfer of shares of Indian Company I will suggest you to read Master circular on FDI Issued by RBI on July01, 2013. It has given a details provision on it.

Ajay Mishra

Ajay Mishra (Expert)
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11 September 2013 For more go to the following link:

http://www.rbi.org.in/scripts/BS_ViewMasCirculardetails.aspx?id=8104#s8b

divyesh

divyesh (Querist)
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11 September 2013 Thank you sir. but if only Indian share holders then there is not required for valuation?

Ajay Mishra

Ajay Mishra (Expert)
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11 September 2013 Valuation is must if shares are issued at face value or more than that, if foreign transsaction is involve.

In case of Indian Transaction then valuation will be required for calculation of fair price at which shares are issued.

divyesh

divyesh (Querist)
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11 September 2013 Thank you sir for your reply

Ajay Mishra

Ajay Mishra (Expert)
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11 September 2013 My Pleasure..............

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