Recently our company has bought another factory which is adjacent to our existing factory. Now my query is that either we have to continue this factory in name of our existing factory or we have to obtain separate registration under the various labour law.
From India, Rudarpur
78From India, Rudarpur
Either way you can do this. It is the corporate decision. Companies Act registration / Factories Licence to be amended accordingly. This can be the extension of existing Factory or remain as a group concern with separate licence and registration. All this based on your board resuluation.
From India, Madras
From India, Madras
Hi Gautam
It depends on the BTA (Business Transfer Agreement) entered into between your Company and the Seller Factory. Some Companies keep the legal identity separately even after purchase in which case, you have to continue to comply with the applicable Labour Laws of the Seller factory.
If it is an amalgamation or merger, then you have to get your existing factory other licenses changed and surrender the licenses of the seller factory.
Regards
P.S.Lakshmanan
S.G. Management Services
(PAN INDIA Labour Law compliance specialist
P.F. ESI, P Tax, Benefit Management &
POSH COMPLIANCE)
Kolkata
From India, Kolkata
It depends on the BTA (Business Transfer Agreement) entered into between your Company and the Seller Factory. Some Companies keep the legal identity separately even after purchase in which case, you have to continue to comply with the applicable Labour Laws of the Seller factory.
If it is an amalgamation or merger, then you have to get your existing factory other licenses changed and surrender the licenses of the seller factory.
Regards
P.S.Lakshmanan
S.G. Management Services
(PAN INDIA Labour Law compliance specialist
P.F. ESI, P Tax, Benefit Management &
POSH COMPLIANCE)
Kolkata
From India, Kolkata
Your company bought a factory which is adjacent to our existing factory and you want to do business in name of your old company.
You can not continue the new factory in name of your existing factory. Otherthan ownership change nothing has happened and the new factory purchased is existing with its legal identity "X" as it was existing earlier :
1. Factory Licence
2.Bank
3. Registration obtained from various statutory departs(Labour Department, EPF,ESI,Central Excise, ROC and many others).
You can do business with the product in name of your old unit by stock transfer till complete change is happened.
It is better to consult a consultant who is looking after comapny affairs.
From India, Mumbai
You can not continue the new factory in name of your existing factory. Otherthan ownership change nothing has happened and the new factory purchased is existing with its legal identity "X" as it was existing earlier :
1. Factory Licence
2.Bank
3. Registration obtained from various statutory departs(Labour Department, EPF,ESI,Central Excise, ROC and many others).
You can do business with the product in name of your old unit by stock transfer till complete change is happened.
It is better to consult a consultant who is looking after comapny affairs.
From India, Mumbai
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