Effect on registrations due to a conversion [Resolved]

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 August 2013 Hello Experts,
We are looking to convert our sole proprietor company to a Pvt. Ltd. company.

Does Pvt. Ltd. company automatically become the owner of all the registrations e.g., CST, VAT, IEC registrations etc. ?

Thanks.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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04 August 2013 Its not conversion. Business of Sole Propritorship is taken over by the company as a going concern. Then the company have to take all the registration again in its name Since both have separate entity.

Querist : Anonymous

Querist : Anonymous (Querist)

04 August 2013 Thanks Mr. Gupta.
We do not have registered a Pvt. Ltd. company yet. We have a Sole Proprietor company and looking to move the business to a Pvt. Ltd. Company. Is there any simpler process/method where we can carry forward all of our registrations?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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04 August 2013 No method to carry forward the registration. It is best to fresh registration. Company has a different legal entity. So it needs to take registration in its name only.

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MJ Krishnamurthy

MJ Krishnamurthy (Expert)
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06 August 2013 The main problem is change in the status of the business concern. Hence it has to go with new registrations,otherwise the old participants of the business can be dragged into any legal complications,rights and obligations....mjk

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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07 August 2013 All the registration as sole proprietor needs to be first surrendered and later seek for new registration as a Company with relevant details to be submitted as applicable ans asked for in prescribed forms.

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