Business transfer agreement
Deepak Nair
(Querist) 27 April 2012
This query is : Resolved
A company wants to acquire other company including all their assets and lliabilities. Assets include fixed and movable assets, land, building etc.
Thus, can we include the transfer of assets/property in the business transfer agreement (BTA)?? OR whether a seperate deed is required for that transfer??
If BTA is enough, then how the court fee will be calculated?
Please advise me on this.
Devajyoti Barman
(Expert) 27 April 2012
The BTA is sufficient for covering the whole deal.
But to transfer the immoveable assets a registered deed of transfer is must otherwise the transfer would be incomplete.
Deepak Nair
(Querist) 27 April 2012
Thank you Barman Sir,
Then, is it required to execute a conveyance deed along with the BTA??
DR.VEDULA GOPINATH
(Expert) 27 April 2012
HI LEARNED COLELAGUE
IT IS ESSENTIAL AND VERY VERY NECESSARY TO FOLLOW THE PROCEDURE LAID DOWN UNDER COMPANIES ACT W.R.T. TRASNFER OF FIXED ASSETS AMONG OTHERS
B.T.A. IS A SHORT CIRCUITED PROCEDURE. PLEASE FOLLOW THE PROCEDURE LAID DOWN UNDER COMPANIES ACT.
DR.VEDULA GOPINATH vgopinath2@yahoo.com 9848227926
Dhiren Akbari
(Expert) 28 April 2012
Dear Mr. Nair,
ther may be other tax savvy options also for serving the same purpose instead of going BTA. need details to work out other options.
Dhiren Akbari drest2n@yahoo.co.in
Deepak Nair
(Querist) 28 April 2012
Dear Learned friends,
Thanks a lot for your valuable comments.
I would seek more advice once my research on the same completes.
