Sell out Company name

Querist : Anonymous (Querist) 21 November 2009 This query is : Resolved
We wish to sell our Pvt. Ltd. company name which is very rare contains the word " INDIAN..." and is 60 years old.

Can I get a good price for that?

If yes, where to contact?

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A V Vishal (Expert) 21 November 2009
To sell the company the networth and financials of the company has to be checked. What is the present position of the company, what is it dealing in and are the statutory compliances up to date. Please update.

Querist : Anonymous (Querist) 21 November 2009
The company will not sell its assets and liability. At present it is having manufacturing and trading activities. The statutory compliances are up to date.

Guest (Expert) 21 November 2009
NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATE
MOBILE.09325226691, 09271971251
e.mail.adv.nbsawant@yahoo.co.in
e.mail.nandkumarbs@sify.com

REGARDING THE SELLING THE NAME OF THE CO.KINDLY NOTE THAT.

1.IN CASE OF ACQUISITION OR MERGER OF TWO COMPANIES THE ASSETS AND LIABILITIES OF THE COMPANIES ARE WORKED OUT AND BALANCE SHEET AND PROFIT AND LOSS ACCOUNT IS PREPARED.AND A PRICE IS FIXED ON THE BASIS OF ALL ASSETS AND LIABILITIES.
2.KINDLY NOTE THAT WITH REFERENCE TO YOUR QUESTION ABOUT SELLING THE NAME OF THE CO.KINDLY NOTE THAT IN CASE ANY COMPANY IS DOING ANY PARTICULAR BUSINESS IT HAS ACQUIRED REPUTATION AND GOOD NAME IN THE MARKET AND MERELY ON THE BASIS OF NAME AND REPUTATION OF CO.THE PRODUCT IS SOLD IN THE MARKET.IT IS CALLED AS "GOOD WILL OF THE COMPANY" .AT THE TIME OF SELLING OR ACQUISATION OR MERGER OF COMPANIES THEIS GOODWILL IS CALCULATED AND IS AN ASSET OF THE COMPANY AND IS REFLECTED IN THE BALANCE SHEET OF THE SAID COMPANY.
WHEN THE SAID COMPANY IS SOLD THE PURCHASE PRICE OF THE COMPANY IS INCLUSIVE OF AMOUNT CALCULATED AND ARRIVED AT AS GOOD WILL, BETWEEN THE SELLER AND PURCHASER OF CO.

IN CASE YOU NEED ANY FURTHR INFORMATION KINDLY SEND THE DETAILS .
WITH BEST REGARDS TO YOU YOUR FAMILY AND FRIENDS
THANKING YOU
YOURS SINCERELY
NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATE

Devajyoti Barman (Expert) 21 November 2009
This is a lawyers interactive forum to get the people resolved their legal queries, not to help people to get their business.

RAJNESH RAMESH LOMTE GULBARGA KARNATAKA (Expert) 21 November 2009
Prepare profit & loss Account & Balance Sheet as on that date of tranfer of Goodwill of said company, the receipt will attract the capital gains tax.

Raj Kumar Makkad (Expert) 21 November 2009
Only name of any company neither can be sold nor can be bought.

Impossible and imaginary quarry has been raised.