Father and 2 sons own Pvt Ltd Co and sells exclusively to one LLP [ where those 2 sons are Partners], who in turn export. In absence of any 3 rd party sale, there is no independent price discovery. What AS plays its role here? Please guide.
Jayanta Bandyopadhyay 27 November 2023
Father and 2 sons own Pvt Ltd Co and sells exclusively to one LLP [ where those 2 sons are Partners], who in turn export. In absence of any 3 rd party sale, there is no independent price discovery. What AS plays its role here? Please guide.
T. Kalaiselvan, Advocate (Advocate) 27 November 2023
What is the definition or elaboration of AS ?
If the business was sold by the directors of the private limited by follwing proper legal procedures to a LLP or any third party until and unless ther is no legal infirmity in it and all the requirements were properly complied, then the transfer of property by sale to LLP by this private limited company can be held as legally valid.
Jayanta Bandyopadhyay 27 November 2023
Business was not sold. Only manufactured items at Ltd Co unit is sold to LLP, all within family for export. There is no 3 rd party sale. Hence, no price discovery of independent transaction. Pl guide
Dr. J C Vashista (Advocate ) 28 November 2023
Facts posted are not clear. Redraft.
It is advisable to consult a local prudent lawyer for your business query.
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