Private Limited Company and proprietorship firm
This query is : Resolved
29 December 2009
Can a Private Limited company have proprietorship firm, as one of its division or concern, one of its director being the proprietor? How would be the liabilities of propritorship firm dealt?
30 December 2009
A company can be a partner in a partnership or be a shareholder or jv partner in any company. However, it cannot be a proprietor. Since there is no independence existence of a proprietor firm, the firm and the individual behind it are the same person. Hence, the director in his individual capacity can be a proprietor but cannot do it on and for behalf of the company.
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