Hi friends in one of my client company case which is a limited company had a agreement with propritorship firm of one of the directior of the company taking over all its assets and liabilities in consideration of shares of the company.
Later on company gets to know that one of the account of Properitorship firm was declared NPA and dat will affect the working of the company so now company wants to revert this agreement so wat are the alternatives avaiable to the company
Whether they have to opt for reduction in capital or buy back of shares, buy back will cost a lot to company bcz the shares are arund 20 lacs.
Friends kindly guide me in this matter at earliest.
CAclubindia
