D Mandal (Consultant) (110 Points)
21 January 2013Sir,
One person is holding a proprietorship firm and a director of pvt. ltd. company. Both the firms are having same type of business and doing operations from the pvt. ltd. company. There is no agreement between both the firm that he can use the pvt. ltd. company's resource.
Can it be possible ? What are the steps to be taken by the other director of the pvt. ltd. comany.
I waiting your reply.
Thanks
shivani
(consultant)
(122 Points)
Replied 21 January 2013
Sir
U can run similar kind business with different company names and status and style
Only thing the very first company registered / established has to give noc to second company to run the admin activiy in the same premises (or else earmark the space for both companis in the renal agreement)
Don to mix the accounts ( purchase in one company and sell in other company)
Maintain a transferency in books and accounts
CAclubindia
