24 August 2009
A limited co. incorporated one year ago. now it wants to take over the running business of a partnership firm in which two directors are the partners(total no. of partners are three). what is the procesure of take over
24 August 2009
Enter into business transfer agreement with the partnership firm. Do a proper valuation of the business to be taken over from an independent valuer.
If the business of the partnership firm has assets which are to be transferred, than a seperate agreement has to be executed for transfer of these assets which will have stamp duty implications. A Board resolution from the private company will also be required.
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