Liability of undertaking company

sreedhar (Querist) 27 October 2009 This query is : Resolved
Company A is liable to pay some amount to Company X. There are correspondances in which Company A has accepted its liablity to pay Co. X. It is now come to know that company B is also functioning in the same address of Company A and company B has acquired 100% equity stake in company A. Whether Company B can be made liable to pay the amount due and payable by company A.

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Raj Kumar Makkad (Expert) 27 October 2009
Yes. if company B has taken over company A completely then it is liable for all its profits, gains, assets and liabilities.

Adv Archana Deshmukh (Expert) 27 October 2009
I agree with makkad sir, if company B has taken over company A completely, then Company B is liable to pay the amount due and payable by company A.

Sachin Bhatia (Expert) 27 October 2009
If company B has taken charge over company A then B is liable to pay the amount due by A.

niranjan (Expert) 27 October 2009
I agree.Company B will also carry liability of A alongwith.

Shashikant V. Patil (Expert) 28 October 2009
If the companies still existed separately on records despite of taking over from B to A , it is onus of both the companies for their liabilities.

Theja (Expert) 28 October 2009
In the evnt of acquisitions, the acquiror shall take all the rights, liabilities of the target.

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