Dear Friends,
In case a newly formed Pvt Ltd company wants to take over an existing sole proprietorship concern, do we have to insert this in the object clause that it will take over such concern?
or
Do we have to insert it anywhere else in the MOA & AOA.
Regards
Indranil Das
Takeover of Sole prpreitorship
is regular business activity
or
it is a Competitive move Of Company to grow its market ?
...........
...........
if it is A Competitive Move,
Then there is no need of TAking it in Objective Clause ..........
If it is Regualr activity
then i have No idea..........
Its My View....
If the company is formed only for taking over the business of the sole proprietorship then definitely it is to be menitoned in the MOA in the Main objects (preferably the last point of main objects).
You have to draft Main objects as per the field of business and then add one more point of takeover in the last.
Thanks.
if the company`s intention was not to acquire any concern at the time of formation,
but it want to acquire existing proprietorship concern ,
& its written in MOA in ancilliary objects,
then whether it is necessary to change the main object clause or not
please help
CAclubindia
