Legal Question in Business Law in India
Dear,
I am a proprietor of a firm. I want to withdraw my proprietorship and want to make proprietor to my brother. Tell me the procedure. and where are the rules published.
Asked on 3/03/17, 3:16 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
04.03.2017
Dear Sir / Madam,
I recommend and suggest that you first admit your brother as a partner in your concern and thereafter you retire from the partnership so that it remains a proprietorship in the name of your brother. Alternatively, you will have to "sell" your proprietary concern to your brother based upon the business valuation done by a Chartered Accountant.
Regards,
Answered on 3/03/17, 3:29 pm
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