Can a Pvt. Ltd. company buy any propriotership company

Parul (CEO) (28 Points)

08 October 2009  

Hi,

Below is the senario.

I have a Pvt. Ltd. company regsitered in 2007. Not doing any business in it though, just maintaining the account and have paid income tax once.

I have been doing business under different properiotersip companiesas follows.

Company A - Myself as proprioter ( from 2005)
Company B - Myself as Proprioter (from 2008)
Company C - Friend as Proprioter (from 2008)
Company D - Mother as proprioter ( from 2009)

I have been paying my income tax as proprioter of COMPANY A from 2005-06.

Now I want to Work under one company only that is the Pvt. Ltd. company, Also I want the Pvt. Ltd. company to officially buy all the proprioter companies and in turn offer the respective proprioters of all companies some %% share in the Pvt. Ltd. company and make them directors. All Proprioter companies are doing business in IT and have a turnover of around 25-40Lac

My questions is that is it possible and if yes how easy or how complicated is it.

Also How much will be the expense to do it and how long it shall take.

Thanks