Incorporation of new company

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 December 2011 While incorporating a company, which likely to acquire exiting business of a firm, (ABC Pvt. Ltd acquiring business of ABC {partnership firm)) and parterns of the firm are promoters / would be directors of the company. Is there any change in the procedure to incorporate the company.
e.g. mentioning in objective or somewhere else
1. while applying for name or
2. while incorporting the company or
3. in M/A and/or A/A

CS Pawan Kumar Baid

CS Pawan Kumar Baid (Expert)
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27 December 2011 Have power of take-over in your MoA/AoA, and keep Partners as director in company. Rest procedure will be same as incorporation.

Regards

Querist : Anonymous

Querist : Anonymous (Querist)

27 December 2011 Thanks a lot sir, is it possible to provide me the portion of M/A and A/a to incorporate power to take-over.

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Querist : Anonymous

Querist : Anonymous (Querist)

27 December 2011 Thanks a lot sir,

can you please possible to provide me the portion of M/A and A/A for power to take-over.

Guest

Guest (Expert)

27 December 2011 Also you can convert partnership firm into private limited company under PART IX of companies act, 1956 to save stamp duty on transfer of assets.

Querist : Anonymous

Querist : Anonymous (Querist)

27 December 2011 firm has only stock of motor vehicles and spare parts thereof , a car and some other office equipments, is there any duty payable on take over of these assests on acqusition

Guest

Guest (Expert)

27 December 2011 No, there is no duty on these assets.

Querist : Anonymous

Querist : Anonymous (Querist)

27 December 2011 Thanks Neha Ji,

Can company take over the assests of the firm on book value or there is another way to decide consideration in respect of capital gains.

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Guest

Guest (Expert)

27 December 2011 Yeah, You can take on book value assets of the firm.

Regards, Neha

Querist : Anonymous

Querist : Anonymous (Querist)

27 December 2011 Mam, is it possible to provide me the portion of M/A & A/A , empowering company to take over business of the firm.

Querist : Anonymous

Querist : Anonymous (Querist)

27 December 2011 Also please advise for:

Is there any change in the procedure to incorporate the company?

e.g. mentioning acquisition in objective or somewhere else

1. while applying for name or
2. while incorporting the company or
3. in M/A and/or A/A

Guest

Guest (Expert)

27 December 2011

Taking over of an existing business

To acquire and take over as a going concern the business now carried on under the name and style of ............... situated at ............. and/or at such other place or places as carried on by them as a partnership firm with all or any of the assets and liabilities together with goodwill, patent, trade marks, rights and
privileges, outstanding contracts and all appurtenant rights, benefits and advantages of the said firm including import and other quota, rights, licenses, permits, telephones and all other properties movable and immovable whatsoever and wheresoever of the said firm and all trades connected therewith on such terms and conditions as may be agreed upon and with a view thereto adopt become parties to and to enter into
such agreements or other deeds, instruments and writings as may be deemed proper or advisable and to agree to make such modifications therein as may be fit and to carry the same into effect with or without
modifications.

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Guest

Guest (Expert)

27 December 2011 There is no change in procedure for incorporation except that include this object in object clause of MOA.

Rest everything is same.

Querist : Anonymous

Querist : Anonymous (Querist)

27 December 2011 Thanks a lot mam, is this part of main objective or ancillary ?

Guest

Guest (Expert)

27 December 2011 ancillary or other object

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