RAMANATHAN (Company Secretary) 08 July 2010

Sole Proprietor

Dear all,

Mr. A who is the proprietor of M/S. Tours & Travels. Mr. A dies and his son Mr. B is running the shop M/s Tours & Travels. Can his son Mr. B be designated as a proprietor of M/s. Tours & Travels. What are the formalities to be considered by Mr. B in this regards

Also if Mr. A has three legal heirs including Mr. B, in such case I understand that Mr. B needs to obtain a NO OBJECTION CERTIFICATE from the other two legal heirs for Mr. B to be designated as proprietor of M/s. Tours & Travels. Is there any other formality to be considered by Mr. B.

Please advise.

Thanks & regards

Ramanathan

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1 Replies

Gundlapallis (Advocate) 09 July 2010

Sole proprietory business is eligible subject matter for partition among the legal heirs. In case of B, he has to get his name entered in RC and then can be designated as proprietor.