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Can we buy an existing sole proprietorship in India to improve the credential/work experience of my current company?
My current sole proprietorship firm which is registered under "Construction business" and we mostly deal in tendering/bidding of govt. dept. like PWD,CPWD, RWD, etc for the work proposals.
The problem is we are unable to BID certain work/tender (i.e.... tender related to earth cutting and bridges) because of lacking in credentials of my firm.
So, is it possible to buy an existing sole proprietorship in India ? If, Yes How ? And if not, is there any other way to do so, or should i first change my sole proprietorship firm into Private limited company ?
CAclubindia
