Pursuant to Part IX of the Companies Act, 1956, a Partnership firm consisting of Seven or more members can be registered as Limited Company under Part IX of the Companies Act, 1956.
On the contrary, where a new company is incorporated to takeover a Partnership firm (the object Clause of MOA has one of the objects as 'Takeover the Partnership firm' and after incorporation a takeover agreement was executed) can be categorized as Part IX company?
Regards,
Sondip Goswami
