anand das (service) 09 June 2011
A limited company is closed from last 10-12 years. The company was in to manufacturing and located in industrial area (i.e. Maharashtra Industrial development Corporation area ). The land is to be purchased now after 10-12 years.
1. What shall be the liabilities of the company ?
2. Where to get information of statutory liabilities and other liabilities of the closed company ?
3. Which information can be obtained from ROC (Registrar of Companies)?
pls guide.
Raj Kumar Makkad (Adv P & H High Court Chandigarh) 09 June 2011
It is better to consult company law board or read Companies Act.
pervez (adviser) 09 June 2011
Dear You have sought advice on the following issues ;
1. What shall be the liabilities of the company ? =
It would be difficult for any body to asceratin the liability of a closed company. Since the company was in manufactuirng, check with Income Tax, excise, sale tax dept etc. Also, enquire from local PF office regarding workmen's dues etc.
2. Where to get information of statutory liabilities and other liabilities of the closed company ?
You may have to have it from various dept. as referred above
3. Which information can be obtained from ROC (Registrar of Companies)?
In RoC, you may only know about the charges / mortgages etc., if created, in favour of any lender. Also see if the company is defunct, penalty if any imposed by company law board / RoC
Ask the seller first about the known liabilities, give advertisement in news papers, call for the liability. In case nothing comes out, take into account the liability as (i) above and proceed. You have to take reasonable precaution which a ordinery human being can take..
regards
Deepak kharat (Legal Advisor) 01 July 2011
You may conduct ROC/Subregistrar/MIDC searches and also publish notice for inviting claims before entering any transaction particularly of sale /purcahse.
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