Buying / takeover unregistered business

Whether the proprietorship registered under Shop & establishment act?

If yes, from how many years...

Hi

The one man business we are planning to aquire is not a registered company . we are registered with 7 years old.

Thanks 

Maha

What you wish to acquire is goodwill of the firm, and my query is for its recognition under any licensing authority....

No, You Can't advertise as your business is 50 Years old, However if you would like to merge his business with you, Just assess his total assets and Liabilities ( Enter into an agreement with Board Process to Acquire only assets + Payment of Goodwill) and agree him to allot shares in consideration other than cash( Do valuation of shares by CA) .Also arrange EOGM to approve such resolution and acquire his business, File necessary forms with ROC,Now his business will be under your company and you can Put your company name and write (In brackets) Former name of His business ...Also note your MOA include such objects which are of The unregd. business you are acquiring and AOA should Authorize issue of shares ...Else amend MOA/AOA first...

Otherwise, You can enter into pvt agreement with such business and convince owner to convert his proprietorship into pvt Ltd company (Not Opc) ,Your company can become subscriber in that company and acquire shares into that pvt company and finally all shares making it wholly owned subsidiary...

disclaimer - Just education and personal views, Should not be act upon, always take professional advice .

Thanks for the inputs , is there any agency based in Chennai who is handling such small Prop. based mergers ?

Thanks

Maha