In case of takeover of a firm by a company(formed for the purpose of taking over of the business of the firm), is there any requirement that the firm must be in existence for atleast one year?
Shyam Lal Naik (Service) (6156 Points)
11 June 2008In case of takeover of a firm by a company(formed for the purpose of taking over of the business of the firm), is there any requirement that the firm must be in existence for atleast one year?
Shabir Ahmad Mir
(Student)
(26 Points)
Replied 11 June 2008
Dear Friend,
This is the case of takeover. When company takesover any firm, this means partners capital and other liabilities are paid off by means of shares in the copany or by cash or any other mode and firm gets dissolved. Then where from this requirement born. It is obvious.
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