Hi Everyone
A pvt ltd company invovled in Construction activity wants to dispose off it's one unit which is engineering division by sale of assets to a proprietorship who will take it over.
What r the precautions to be taken from ITAX & Co LAw angle?
Does anyone have format of documents to be executed for such sale of assets? Pl mail it to me
Deepak Gadgil
gadgildeepak2000 @ yahoo.com / deepakgadgil @ sancharnet.in
0217-2318152/2319641/9422068273
_________________
Deepak Gadgil
FCA DISA
Solapur
09422068273
2 Replies
Nitin
(43 Points)
Replied 10 May 2007
If it is a sale of substential undertaking to outsider, special resolution under section 2931a will suffice (though this is not applicable to independent pvt. ltd co. Also it is prudent to pass a resolution in Gen meeting also. If buyer proprietor is related party sec 297 etc may be looked into.
If it is proposed that this unit is converted into another comany and shareholders will be given shares of te new company, then demerger procedure is to be done u/s 391-394
If it is proposed that this unit is converted into another comany and shareholders will be given shares of te new company, then demerger procedure is to be done u/s 391-394
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