Credential of proprietorship firm can be convert into pvt lt

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 May 2013 Hi everyone!
Please tell me that I am having a proprietorship firm but now I want to convert it into Pvt Ltd without making any hamper in financial credential of my proprietor ship firm I want the same in the pvt ltd.Please help me as for govt tenders credential is the most important thing. For any prob in understanding please call me 9836215959.I am a young guy please guide me properly .

Rupesh Jain

Rupesh Jain (Expert)
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30 May 2013 if you have not any assets or major assets in prop. firm then you can incorporate company
and start work like a new co.

other wise you have to sell the fixed assets to co. or you insert the clause that you are takeing assets from your business and take shares from company for cosideration of assets.,

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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15 July 2013 First of all without 2 or 3 persons you cannot start a Pvt. Ltd company. So, the status of your proprietorship business will loose the character of proprietorship. Now, In the main object of the private limited company you have to incorporate that you are taking over the business of te proprietorship business carried on by you in the name of ........... or otherwise you have to form a Pvt. Limited company and then make a sale agreement with the proprietorship business and the company it will automatically be transferred. While making the sale deed you should incorporate all the clauses for Trade Licences, Tender registration and registration with other departments and other registration with eh govt. deptt.