Company property
umang
(Querist) 13 June 2013
This query is : Resolved
We have sold one of our company in 2007, now we have discovered that one of the property belonging to the company was not included in that transaction due to lack of knowledge about that property belonging to the said company.Now what is our legal right over that property?
The property is in possession of a third party, how can we get the aforementioned property?
the property is in the name of the company & we have sold the company to someone else. when we have sold the company then how should we claim right over that property in what capacity, how we should proceed in this matter ?
one more fact is that the name of the company was changed from 'x' to 'y' before selling the company & the property stands in the name of former name.
Please Advice & oblige
Regards,
Umang
+918652050771
Atlas Eva
(Expert) 14 June 2013
basically this matter related to companies act and transfer of property act
facts to analysis
did u included this property in the agreement of sale of the company
if no then this property is not transfered to the buyer of the company
secondly why is the property in possession of a third party, had u given to him on lease and license ?
thirdly the best practical solution to the problem is
make a new company with the former name , it means the old name . and claim the property
if u need any more help then email me
Oovesh Sarabhai
Practising Company Secretary & Trademarks Attorney , Mumbai
Cell 9769797199
