Hi
My Proprietorship Firm was transferred to my name last year by my Father through a Transfer deed.
we have a participated in tender of a PSU where Prequalifiation Requirement is to submit an Previosu Purchase order, executed and completed by My company in last five years and Balance sheet of Previosu three years
I accordingly have partcipated in tender and have submitted Balance Sheet of 2016-17 and previosu years and Order in tender. ( tender was due in June 2018)
Now the PSU says that the Balance sheet and Orders can not be considered firm experience as on today as Proprietor have changed.
I have contested this issue and they say they are taking legal advice in this regard.
please help me in underdstanding this scenario whether is this True that a Firm all experience and Accounts becomes void once Firm Propritorship changes legally or the new Proprietor is not entitled to use any Previous Achievement of Firm.
Please Help
Alok