Dear Members,
Pls give your advice on below matter:
A Pvt. Ltd.company is into 2 business activities i.e wifi and consultancy. The Consultancy work is done by one Director and he operates a separate account in the name of Company. All the funds pertaining to this consultancy work is credited and debitted from this account only.
Now he wants to have a separate entity and the the Company is also ready to segregate this business. There are movable assets such as printers and laptops (worth Rs.15lacs) which was purchased for this consultancy work and few contracts which are in the name of Company.
How can we transfer these i.e movable assets and contracts to the new Entity opened by him with minimalistic legallities.??
CAclubindia
