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Limited co. take over the running business of the firm

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(Querist)
24 August 2009 A limited co. incorporated one year ago. now it wants to take over the running business of a partnership firm in which two directors are the partners(total no. of partners are three). what is the procesure of take over
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Rasesh

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Rasesh (Expert)
24 August 2009 Enter into business transfer agreement with the partnership firm. Do a proper valuation of the business to be taken over from an independent valuer.

If the business of the partnership firm has assets which are to be transferred, than a seperate agreement has to be executed for transfer of these assets which will have stamp duty implications. A Board resolution from the private company will also be required.
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
25 August 2009 But can you tell us what abt compliances from the companies side ??
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