takeover
This query is : Resolved
27 November 2010
Dear All
Please help me to understand :
can a private Ltd company can be takenover by firm (sole proprietor or partnership firm)and if yes whether High court approval is necessary?
Thanking all in anticipation......
Please help me to understand :
can a private Ltd company can be takenover by firm (sole proprietor or partnership firm)and if yes whether High court approval is necessary?
Thanking all in anticipation......
Jayashree S Iyer
(Expert)
06 December 2010
Private Limited Company cannot be taken over by firm while vice versa is possible. The constitution of Private Limited company vis-a-vis firm / sole proprietorship are different. The company has to be wound up following the procedures stipulated in the Companies Act, 1956
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