Conversion of llp into private limited company
This query is : Resolved
JASPREET KAUR
(Querist)
06 March 2017
Dear Experts,
As per Section 366 of the Companies Act, 2013, LLP or any other partnership firm consisting of 7 or more members can be registered as a company limited by shares.
But this restriction of 7 or more members is applicable for conversion into Private Company also? And then a LLP consisting of 3 members can-not be converted into a pvt ltd company?
Looking for the response.
Thanks.
As per Section 366 of the Companies Act, 2013, LLP or any other partnership firm consisting of 7 or more members can be registered as a company limited by shares.
But this restriction of 7 or more members is applicable for conversion into Private Company also? And then a LLP consisting of 3 members can-not be converted into a pvt ltd company?
Looking for the response.
Thanks.
CS Mitesh Mehta
(Expert)
06 March 2017
Yes
Requirement of having minimum seven or more members is restricting LLPs with less partners from conversion.
Any LLP having less number of partners willing to convert itself into Company must increase its number of partners
Requirement of having minimum seven or more members is restricting LLPs with less partners from conversion.
Any LLP having less number of partners willing to convert itself into Company must increase its number of partners
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