| (a) | - | "firm" means a firm as defined in section 4 of the Indian Partnership Act, 1932 (9 of 1932); |
| (b) | - | "convert", in relation to a firm converting into a limited liability partnership, means a transfer of the property, assets, interests, rights, privileges, liabilities, obligations and the undertaking of the firm to the limited liability partnership in accordance with this Schedule. |