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Umesh Khanna (CEO)     26 July 2014

Change of status of firm:criminal cases

Sir ,

My fathers proprietorship firm is in legal criminal  cases against his debtors, Due to his age and health he wants to transfer the firm in my name , can he do so while the cases are subjuidice ? . We have been advised to convert the proprietory firm to a partnership , what happens to legal rights of the proprietory firm to recover money? the main point is effect of present litigation with change in status of firm?

please guide



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