Hi I need legal opinion on continuation of a proprietary firm..
As I was working with my father for last 8years and he was the
proprietor of the firm M/s Gulbarga local Transport Handling &
transportation contractor,
Last year on 14th march 2015 my father expired
due to heart failure. As a authorized person
Two contracts were allowed to continue
1. Central warehousing corporation. Bangalore
2. Rashtriya Chemicals & fertilizers, Bangalore(work successfully Completed in July 2015)
However Central warehouse corporation has terminated the
contract on 05th August 2015 due to legal opinion from their head
office Delhi
That as it was a proprietary firm the authorized person
cannot continue the work so terminated.
Now my question is can I continue as new proprietor of the
above firm. Because I want to apply for future as well as in Pre-qualified tender/works
using my father’s ITR, BALANCE SHEET, PROFIT&LOSS statement, Experience(Work Completion Certificates) Etc, or should make a new firm which I think it’s impossible at this stage, As I was not having required work experience on paper or else should I make this Firm as registered partnership firm. I m totally confused
Kindly help in this regard
