Merger of partnership firm into new pvt.co.

Querist : Anonymous (Querist) 18 December 2009 This query is : Resolved
If I form a new pvt.co.-limited by shares and then whether this new pvt.co. can takeover the assets & liabilities of the existing partnership firm.
Pl.advice.

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Guest (Expert) 18 December 2009
Its a tricky query. There is a procedure for converting a partnership firm into a pvt. limited company. However, the private limited company can acquire the existing partnership firm with the assets and liabilities. It is to be done carefully in view of the rights of the creditors of the existing partnership firm. The answer is "yes".

Raj Kumar Makkad (Expert) 18 December 2009
Yes. This can be done at per law.

Querist : Anonymous (Querist) 23 December 2009
What is the procedure & requirements?
Pl.advice.

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