Poonawalla fincorps
Poonawalla fincorps

can a partnership firm be acquired by a private limited co.

This query is : Resolved 
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(Querist)
01 July 2009 What is the checklist/procedure for above subject?
Which provisions are applicable?

Pl. provide me each and every detail related to this....
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
02 July 2009 Yes the pvt. ltd coy can acquire partnership firm.

Value the net assets of the firm.

Value the share price of the pvt ltd coy.

Then issue shares to the partners of the firm in their proportion of capital.

Capital gains will be attracted to the firm.
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Ankur Garg

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Ankur Garg (Expert)
02 July 2009 Yes. Such acquisition by Pvt. Co. is possible.
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Neha Wadhawan

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Neha Wadhawan (Querist)
03 July 2009 kindly advise whether NOC is required to be taken from Debtors and Creditors of the Firm.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
08 July 2009 You can take NOC and ask them whether they have any problem if you convert the same.

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