Slum Sale & Issue of contract name changing

[Vishal B]

I don’t want to disclose the name of companies. But please guide me what to do?

Two companies

1. XYZ Ltd- Active
2. ABC system Pvt Ltd- Active

-AAA Govt Authority Monitoring slums in Mumbai and suburban area

Date wise sequence

1. AAA was float a tender for particular project in march 2015
2. XYZ Ltd has participated the bid as they have won the bid because they are in L1 & technical qualification.
3. The project cost is 1.8 cr
4. The project Duration was 4 Months as per tender document but till date the above company is working, AAA haven’t taken any action due to delayed in project.
5. 21 Sept 2015 XYZ Ltd received work order/ purchase order from SRA.
6. 1 Oct 2015 (In just 10 Days after receiving work order/ purchase order) XYZ Ltd sent letter to AAA to change in name on work order as ABC system Pvt Ltd
7. They mentioned that both parties had some slump sale of IT division & accordingly the whole responsibility was will carried out by ABC system Pvt Ltd. And contracts which was having XYZ ltd will be carried out by ABC system Pvt Ltd
8. As per their request AAA has changed name on work order/ purchase order as ABC system Pvt Ltd till date the payment has made to ABC system Pvt Ltd.

Both parties have made a notary on 29 Jan 2016

1. Part 1- Undertaking given by Mr.X, Director at XYZ Ltd
2. Part 2- Undertaking given by Mr.A Director at ABC System Pvt Ltd

Now

1. We have an doubt that this above companies have made same thing over all govt authorities where they worked to make technically strong to ABC System Pvt Ltd (It was register 2010 at Kolkatta ROC)
2. If XYZ Ltd is working as ltd company – then Board of Directors must pass a resolution to the effect of sale of assets/undertaking of the company as per Section 179?
3. They have made same practice of change of name many ULB's?
4. If the ABC system pvt ltd was having creditable to participate the above tender then why the put XYZ ltd?

Regards
Vishal

AI Summary

Companies Face Scrutiny Over Tender Name Change; Questions Arise on Section 179 Compliance and Asset Sale Practices Two active companies, XYZ Ltd and ABC System Pvt Ltd, were involved in a project initiated by a government authority overseeing slums in Mumbai. XYZ Ltd won a tender in March 2015 for a project worth 1.8 crore INR, with a duration of four months. Shortly after receiving the work order, XYZ Ltd requested a name change on the contract to ABC System Pvt Ltd, citing a slump sale of its IT division. The authority complied, and payments were made to ABC System Pvt Ltd. A notary was executed in January 2016. Concerns arose about similar practices with other government authorities and the necessity of board resolutions under Section 179 for asset sales.