Pvt. Ltd. and Sole proprietor
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 November 2010
Can a Private limited company be sold off to a sole propritorship. if yes how?
17 November 2010
The minimum number of shareholders required for a Pvt Ltd Co is two. If it is sold to a sole proprietor then this requirement will not be fulfilled. Hence it can not be sold to a sole proprietorship as such.
However if a person desiroues of taking control assets and liabilities of the Pvt Ltd Co. he can do so for an agreed consideration.
The status of Pvt Ltd Co as such will still remain intact.
However if a person desiroues of taking control assets and liabilities of the Pvt Ltd Co. he can do so for an agreed consideration.
The status of Pvt Ltd Co as such will still remain intact.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN REDEVELOPED FLAT
- CLOSING STOCK QUERY
- Requirement under FEMA &RBI
- REGARDING ITR FILING QUESTION
- ITC BENEFIT ON BROKRAGE PAID
- TDS refund Indemnity Bond
- DUE DATE FOR ITR FILING
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- GST ISD Query on various AMCs
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
