Dear All,
Our company is Customs House Agent (CHA), we got D.E.P.B license from a debtor for settlement of debts, saying as we have to sold the D.E.P.B license and settle his debit balance. our debtor also send the letter of Transfer of D.E.P.B license on our company name having authorized by him and his banker.
Here the Issue is can we (being CHA) hold the D.E.P.B license is there any legal effect. may be after some time we will sell the D.E.P.B license when we got the Purchaser. Untill then can we hold the D.E.P.B license as an asset in our books of accounts.
Another one after holding it and when we sell the same to buyer at that time we need to draft a transfer letter on behalf of Buyer regarding the D.E.P.B license (infact we received the letter of transfer from our debtor), in that transfer letter to buyer is it mandatory to get authorised by our bank. If it is mandatory how can the bank do so as the D.E.P.B license will be in our books of accounts as similar to an asset.
Friends pls help me in this issue.
CAclubindia
