Conversion of properitorship to private ltd
This query is : Resolved
Mayank Maheshwari
(Querist)
04 May 2016
1) please advise the procedure to convert properitorship to a newly formed private ltd, where properitor is director with 51% shareholding.
2) please suggest whether the past credentials of properitorship firm ( ex. past year turnover, past workorders) will be deemed transferred to pvt ltd? and private ltd can take benefit of it?
CS JAY GOHIL
(Expert)
13 May 2016
AS PER MY VIEW IT IS NOT POSSIBLE TO CONVERT PROP. FIRM TO PVT LTD COMPANY BECAUSE IT IS AND UNREGISTERED ENTITY AND THERE IS NO PROVISION IN LAW REGARDING SUCH CONVERSION
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