Liquidation of HUF / Partnership firm
This query is : Resolved
Kovid Jolly
(Querist)
03 March 2008
Hi,
I have a query.
Incase an HUF (under liquidation) has after paying up all its secured creditors some losses left in the books.
Can that HUF sell its business (book losses) to a COMPANY?
If yes, can you please mention the procedure for such Liquidation and consequent Acquisition?
my email : kovid25@gmail.com
Thanks and regards,
I have a query.
Incase an HUF (under liquidation) has after paying up all its secured creditors some losses left in the books.
Can that HUF sell its business (book losses) to a COMPANY?
If yes, can you please mention the procedure for such Liquidation and consequent Acquisition?
my email : kovid25@gmail.com
Thanks and regards,
S.Srinivasaraghavan
(Expert)
04 March 2008
It can sell. There is no question of liquidation of HUF. But HUF properties can be fully sold off.
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