Take over of partnership firm by newly approved company
This query is : Resolved
CA Kunal Patel
(Querist)
06 November 2012
Hi experts,
Can you please guide us through this? There is a Partnership Firm in existence since 1.5 yrs. Due to potential growth, partners decided to form a Private Limited Company. But, during Name Approval process, we said that it is not a conversion as partners were not ready to concede any VAT or Stamp Duty. Now, we are in process to file MOA/AOA with ROC. Now, they want all all assets and liability in new company? What will be the route for this Takeover? Stamp Duty will be paid on what? Net Assets or Immovable property? And What about MVAT?
Please guide us on this as we are nearing our submission of MOA/ AOA date and we will have to incorporate clauses which you will tell us to do.
Thank you!!
Can you please guide us through this? There is a Partnership Firm in existence since 1.5 yrs. Due to potential growth, partners decided to form a Private Limited Company. But, during Name Approval process, we said that it is not a conversion as partners were not ready to concede any VAT or Stamp Duty. Now, we are in process to file MOA/AOA with ROC. Now, they want all all assets and liability in new company? What will be the route for this Takeover? Stamp Duty will be paid on what? Net Assets or Immovable property? And What about MVAT?
Please guide us on this as we are nearing our submission of MOA/ AOA date and we will have to incorporate clauses which you will tell us to do.
Thank you!!
CA Kunal Patel
(Querist)
09 November 2012
Please experts..Reply to my query as I am not able to find any source which can resolve my this query and my submission date is 16th November 2012..
CA Kunal Patel
(Querist)
08 December 2012
The Company Name approval due date is gone. So please advise me as to what should have been done.
10 August 2023
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