Upgrad LLM

proprietory concern


The proprietor of a firm died intestate due to heart attack. One of the three sons is an authorised signatory in the firm for the purpose of day-today transactions of the firm.  The firm is registered under Central Excise Act.  What immediate formalities would be necessary in order to continue the business of the firm?  Obliged for valuable suggestions..

 
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Advocate

The proprietary business dies with its owner, you have to apply for fresh registrations of all statutory obligations.

 
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ADVOCATE

Yes , Mr Vishal is right  , Make dissolution Accounts and pay all liabilities , pay all heirs their due and close it

If you want to continue , make dissolution Accounts , Pay All liabilities , Make fresh Partnership Co . with Share Capital , the previous leftover

 

Consult an Expert , But Expert or NO Expert  Simple Logic will rule All laws of any  Man made laws if they are honestly applied

 
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Advocate/ nadeemqureshi1@gmail.com

i am agree with above mentioned opinion

 
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