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Q. > Please Help: Sale of assets by a company to its director
X a pvt ltd company want to dispose off its 50% fixed assets consisting of Plant, furniture, building, and other movable assets, say sundry debtor to one of its director having substantial interest in the company. And this director want to run a similar unit in his proprietorship capacity with the machines and equipment taken from this pvt ltd company in which he has 90% share holding.
Please tell me whether this is feasible to split the company in such a way, and if so then kindly give the detail procedure to be followed in this regard with respect to IT act and companies Act both.
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Rambabu Senkarasetti
Accounts, Audit, Corporate Law, Finance, Income Tax, Service Tax, Students, VAT
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CA Satuti Mahajan
Accounts, Audit, Corporate Law, Custom, Excise, FEMA, Finance, GST, IFRS, Income Tax, Service Tax, Shares & Stock, Students, VAT
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Vikash Kumar Jha
Accounts, Audit, Banking, Corporate Law, Custom, Excise, FEMA, Finance, GST, IFRS, Income Tax, Service Tax, Shares & Stock, Students, VAT
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Rishabh Upadhyay
Accounts, Audit, Corporate Law, Custom, Excise, FEMA, Finance, IFRS, Income Tax, Service Tax, Shares & Stock, Students, VAT
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Ashish Karundia
Accounts, Audit, Corporate Law, Custom, Excise, FEMA, Finance, Income Tax, Service Tax, Students, VAT
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Mrattunjay
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PRIYANKA
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CA. SURESH Kr. AGARWAL
Accounts, Audit, Corporate Law, Custom, Excise, FEMA, Finance, GST, IFRS, Income Tax, Service Tax, Shares & Stock, Students, VAT
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Vaneet Gupta
Accounts, Audit, Corporate Law, Custom, Excise, FEMA, Finance, IFRS, Income Tax, Service Tax, Shares & Stock, Students, VAT
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Ketan Samdani
Accounts, Audit, Corporate Law, Excise, Finance, GST, Income Tax, Service Tax, Students, VAT
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