Takeover
This query is : Resolved
30 August 2010
What is the procedure for takeover of a running proprietory concern (manufacturer) by a newly formed Pvt LTd Company .The proprietor is also a director in the new company alongwith his other relatives..
30 August 2010
Do a business takeover agreement. Since there is no shareholding, etc involved in proprietorship, the agreement can be on stamp paper of nominal value and can include details for takeover of business brand only.
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view of other members requested
30 August 2010
The sole prop can sell the manufacturing unit as sale of business undertaking to the private limited company at a fixed consideration.
Dhirajlal Rambhia
(Expert)
02 August 2023
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