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.
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