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Sale & Purchase of Old Companies
Take your first step towards winding up your Business. A Company not commenced its business within one year from the date of incorporation/inactive for two years/not a Dormant Company.
Basic
✅ DSC
✅ DIN eKYC
✅ Director Appointment
✅ Director Resignation
✅ Share Transfer
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Preparation of Financials, Annual Accounts, Maintenance of Monthly Books, GST Registration, Invoicing, GST Filing, Income Tax Return (ITR) Filing, Banking and Payroll
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Transfer of Ownership & Directorship
The transfer of ownership and directorship of a company involves a series of legal and procedural steps. Here is a general overview of the process:
Agreement and Due Diligence: The buyer and the seller negotiate and enter into an agreement outlining the terms and conditions of the ownership transfer. The buyer typically conducts due diligence to assess the company’s financial, legal, and operational aspects.
Share Transfer: If the ownership transfer involves a share purchase, the seller transfers the shares to the buyer. This may require executing a share transfer agreement and updating the company’s share register.
Asset Transfer: Alternatively, if the transfer involves the sale of company assets, the buyer and seller negotiate and execute an asset purchase agreement. Specific assets and liabilities are identified, and the necessary legal procedures are followed to transfer ownership.
Board Resolutions: Once the ownership transfer is complete, the board of directors of the company needs to pass resolutions acknowledging the change in ownership and updating the company records accordingly. This typically includes updating the shareholding structure, directorship details, and any other relevant information.
Directorship Change: If the transfer also involves a change in directorship, the resigning director(s) submit their resignation letter(s), and the new director(s) are appointed through a board resolution or as per the company’s Articles of Association. The company needs to inform the relevant authorities, such as the Companies Registrar, about the directorship changes.
Statutory Compliance: The company must comply with all statutory requirements related to the ownership and directorship transfer. This may involve updating the company’s registers, filing necessary forms or notifications with the appropriate authorities, and paying any applicable fees or taxes.