Query under company law
ravinder
(Querist) 12 September 2011
This query is : Resolved
sir..
can a sec-25 co. be converred into a parternership firm under companies act,1956 ...?
Sailesh Kumar Shah
(Expert) 12 September 2011
Q. Can a sec-25 co. be converted into a parternership firm ?
Ans. No.
Guest
(Expert) 12 September 2011
Sec. 25 of the Companies Act refer only to the power of the Central Government to dispense with “Limited” in name of charitable or other company, as formed as a limited company for promoting commerce, art, science, religion, charity or any other useful object, e.g. Chamber of Commerce. At the most, on revocation of license, that body can change its name to a name which does not contain words “Chamber of Commerce” if that body contravenes the provisions of Sec.25(1)(a) of the Act.
So, where does the question of change of constitution of the body arises?
KRIPAL singh
(Expert) 12 September 2011
" conversion " is not possible. Form a partnership, sell the company's undertaking to the partnership firm then dissolve the company through due process of law.
prabhakar singh
(Expert) 12 September 2011
Expert : Shailesh Kr. Shah has given the sharp answer that deserved the question.It needed no further explanation.i appreciate the answer but not the query.
A man born as man can die only as man and not as frog.
A company is a judicial entity[even formed under s 25] while a partnership is a non entity.
Raj Kumar Makkad
(Expert) 12 September 2011
I am fully agreed with prabhkar singh.
