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Merger of prop firm with pvt co

SURENDRA SAHU (Practicing Company Secretary) (31 Points)

12 April 2014

pls share what procedure to follow merging in / taking over running mfg. business of prop. firm by pvt co owned by same family members

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P C Agrawal (Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad) (8229 Points)
Replied 14 April 2014

After incorporation of company, an agreement has to be entered into between the Proprietor and the company for transfer of business. You will have to take care of stamp duty and taxation aspects on the same.