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Llp financials

Amruta (student) (32 Points)

27 July 2016

one private limited company got converted into LLP in july 2015. while preparing the financials of LLP whether we have to disclose the previous year figures of Private company?

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mohammad rasool baig (Management Consultant) (1026 Points)
Replied 27 July 2016

On and from the date of registration specified in the certificate of registration issued under paragraph 4–

a. there shall be a limited liability partnership by the name specified in the certificate of registration registered under this Act;

b. all tangible (movable or immovable) and intangible property vested in the company, all assets, interests, rights, privileges, liabilities, obligations relating to the company and the whole of the undertaking of the company shall be transferred to and shall vest in the limited liability partnership without further assurance, act or deed; and

c. the company shall be deemed to be dissolved and removed from the records of the Registrar of Companies.