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Participating in tenders by a newly formed pvt ltd co

vinutha (CA) (25 Points)

13 July 2011

Recently a pvt ltd co was incorporated with the view of expansion and may take over a existing partnership.The partners of firm are directors of the co. As it is a going concern, the firm continues to function. the pvt ltd too starts its opns. The firm executes govt tenders. the pvt ltd wants to execute but does not have the criteria like track record, 3 yrs b/s etc. this is happening during the middle of july.

it would be great to have suggestions on what could be the best way forward.

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NIRALI SOLANKI (JOINT MANAGER LEGAL & SECRETARIAL) (87 Points)
Replied 13 July 2011

Originally posted by : vinutha
	Recently a pvt ltd co was incorporated with the view of expansion and may take over a existing partnership.The partners of firm are directors of the co. As it is a going concern, the firm continues to function. the pvt ltd too starts its opns. The firm executes govt tenders. the pvt ltd wants to execute but does not have the criteria like track record, 3 yrs b/s etc. this is happening during the middle of july. it would be great to have suggestions on what could be the best way forward.

As per my Knowledge the following are suggested,

1. You can draft a tender claimimg the Goodwill of Partnership and also specifying the future prospects of the Company, as the management is same.

2. You can make this Company as a one of the Partner of this firm. But check once provisions of Companies Act as well as Indian Partnership Act.

3. Takeover this firm in the Company.

Thanks.

Nirali Solanki

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vinutha (CA) (25 Points)
Replied 16 July 2011

@ Nirali Solanki...thanks for ur reply..

your 1. suggesstion looks appealing..but featuring about the future date of takeover ..is it a valid stand.

your 2. looks cumbersome...

your 3. this is what is the final intention. till such time we find an approriate date...we are on the look out for starting the pvt ltd opns

it would be nice to hear about 1.

regards

Vignesh Krishna (Website Designer) (40 Points)
Replied 02 January 2024

Being part of tenders is a big deal for our new company. We use Tendersniper to stay updated and competitive, finding different chances to grow and get noticed. I hope it helps you in your success. Good luck!

Thank you!