Conversation of partnership firm into pvt ltd under ca 2013

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CS Pooja Thakkar (Querist)

15 July 2015 Hi friends, can anyone help me with the procedure and requirements for conversion of a partnership firm into private limited company? ROC Mumbai is not accepting such application. can anyone help how to move ahead?

Arpit Shah

Arpit Shah (Expert)

16 July 2015 https://taxguru.in/company-law/converting-partnership-firm-private-limited-company.html

Pratik Shah

Pratik Shah (Expert)

16 July 2015 Hi,

Alongwiwth above link, please also refer Section 366 of Companies Act 2013. It has a procedure to convert partnership into Company.

CS Pooja Thakkar

CS Pooja Thakkar (Querist)

20 July 2015 Thank you Arpit & Pratik..

Any idea why ROC Mumbai do not accept such application? is it legal? how do I move ahead.. coz the company is getting major benefits from conversion..

Pratik Shah

Pratik Shah (Expert)

20 July 2015 How did you file the application? I mean which form did you file?

I really feel that making application under Section 366 is lengthy procedure.

Usually, it is better to incorporate new Company and takeover the business of Partnership firm. If Partnership Firm does not have any immovable property, then this is very efficient process of converting Firm into LLP (Although this is not a conversion per se)

CS Pooja Thakkar

CS Pooja Thakkar (Querist)

21 July 2015 I have not yet filed the application.. just went for the verbal inquiry at ROC.. they said that they are not accepting applications of conversion of Partnership Firms.. but they do conversions of LLP to Company...

In my case the cost of availing License of activity of the company is huge.. hence conversion is the best option rather than take over..

Pratik Shah

Pratik Shah (Expert)

21 July 2015 Ok. Currently, I am not having idea about any other option. Try to file the Application under 366.

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