13 December 2008
ours is a pvt ltd co.in building construction trade,we have taken over a partnership firm as a going concern and after taking over the partnership firm,the partnership firm is dissolved.our pvt ltd co. now wants to take the advantage of credentials of taken over partnership firm-- 1.like its experiences of work done,i.e.work completion certificates. 2.its turnover in last years. The query is so generated bcoz ours pvt ltd co.is doing contract business so previous experience[specially these two] is a critical factor in bidding.
13 December 2008
It will not be possible because both of them are different entities run by different people. However if all the partners of firm have joined the Company then you can enjoy some benefits. If they are not then you cannot enjoy any benefits.
14 December 2008
Dear Sir in your reply u wrote "some benefits" plz elaborate your reply.and yes all the partners of the partnership firm have joined the pvt ltd company.
CAclubindia
