What is ghd question sir?
A private Limited company can take over a partnership firm
ABC has a partnership firm where partner ABC carrying on business of Electrical Contractor. ABD has A Security company Private limited. where A & B are disqualified director. ABC firm has applied a tender. in pre Qualification of Tender it was mandatory contractor should be a company. Either Security company has take over the partnership firm or a new private limited company take over the Firm
Asked 6 years ago in Business Law
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7 Answers
Hello,
the private limited company may go ahead and tale over the partnership firm.
but if the tender condition stipulated that at the time of applying the same should be applied by a company then doing so prospectively after applying for tender will be of no help.
regards
1. IF it is intended that ABC should apply for Tender, THEN it would be best to convert the Partnership Firm into a Pvt. Ltd. Co. OR a LLP, and transfer all goodwill rights, assets and liabilities to the converted co.
2. The above process is very simple and hardly takes 10-15 days for registering the new co.
3. Involving ABD (being a security co.), in the Tender process shall be unwise, since the AOA and MOA of ABC would need to be amended to carry work of "Electrical Contractor". AND further there would be legal issues /disputes over debts /liabilities/ pending statutory notices /dues and other compliances.
What is the need of acquisition just for a tender.
Well, both case possible. ABD can purchase the firm or convert firm in to company or fresh company can acquire.
pls post your query in details.
What is your question?
You want the ABC company to take over the security company that is belonging to ABD;
Whether the AQBC partnership company is still functioning or dissolved due to disqualification of A and B as directors?
Partnership company cannot be be dissolved because the directors are disqualified, except the partners resign or removed.
Hi
Yes a private limited company can takeover the partnership firm with all its assets and liabilities
