conversion to private limited from propritory concern

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alakesh

alakesh (Querist)
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09 January 2011 what is the procedure to transform from propritory concern to private limited company

Jayashree S Iyer

Jayashree S Iyer (Expert)
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10 January 2011 Follow the usual procedure to form a company., viz.,
1) 2 Promotors having DIN should apply for name availability in Form 1A. Atleast one of the promotor should have Digital Signature for electronically signing the form.
2) After getting the name approval from ROC, apply for incorporation in Form 1 within 60 days.
3) Alongwith Form 1 you need to submit Memorandum of Association, Artiles of Association, Power of Attorney, Form 18 (Registered Office Address) and Form 32(Directors appointment). Get the MOA / AOA duly executed by the subscribers and get it witnessed.
4) In the main object clause of the MOA, specify "taking over proprietory concern" as one of the main objects.
5) Minimum authorised schare capital required to form a private limited company is Rs.1 lac.
5) Pay necessary stamp duty and fee for incorporation.

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