What if a director of a company starts a proprietor firm simultaneously?
This query is : Resolved
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Mayur Dixit
(Querist)
02 May 2023
Hi Experts,
Can a company director holding 49% shares of a company be a proprietor of another company distinctly?
Can a company director holding 49% shares of a company be a proprietor of another company distinctly?
CA R SEETHARAMAN
(Expert)
02 May 2023
Yes, he can be no problem.
Mayur Dixit
(Querist)
02 May 2023
Hi Sir,
However, I guess the transaction in between them cannot be shown as debtor-creditor relationship? Any advise
However, I guess the transaction in between them cannot be shown as debtor-creditor relationship? Any advise
CA R SEETHARAMAN
(Expert)
02 May 2023
Yes, it can be shown as debtor creditor relationship. But should be disclosed as related party transactions.
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