Conversion of company into llp

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Manpreet (Querist)
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20 January 2015 Greetings to All !!

LLP Act allows only individuals and body corporates to be partner of LLP. A private limited company is having HUF shareholders also. How can such company be converted into LLP?

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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20 January 2015 As per section 5 of LLP Act, 2008 only an individual or body corporate may
be a partner in a Limited Liability Partnership. A HUF cannot be treated as a body corporate for the purposes of LLP Act, 2008. Therefore, a HUF or its karta can not
become designated partner in LLP.

What you can do is transfer the shares from HUF to individual/body corporate before conversion

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