TVD Rajkumar (Advocate) 18 December 2008
I know I shoudn't be forcing you on this but this is little urgent!
Iam in need of legal formalities for Takeover of one co by another co. and precautions which are to be adhered to by lending bankers in such eventualities
Judgments of HCs & Supreme Court would be an added help
Thanks in advance
Rajesh Kumar (Advocate) 24 December 2008
Due diligence should be done by the lenders. Such takeover can bring additional liabilities in the balance sheet, which should be examined.
RAKHI BUDHIRAJA ADVOCATE (LAWYER AT BUDHIRAJA & ASSOCIATES SUPREME COURT OF INDIA) 27 December 2008
Mr. Rajesh is absolutely right, I do agree with him.
Y V Vishweshwar Rao (Advocate ) 10 April 2009
The Assets of the subject Company should be verified thoughly and confirmed that they are physically existign with out any encumbrances and the correct value to be arrived not withstandign the Balance Sheet Values . So also the liabilites to be verified , The Creditors who are advancing the amounts to acquire another company should engage their own team of Auditors & legal investigators to to knw about the Comapny and its affairs , assets & Liabilities .
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