convertion of partnership in to limited company

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vinodkumar. (Querist)

13 February 2008 sir
1. Is it posibile to convert a partnership firm in to a ltd copmany.

2. If it possbile is the new comany can legally claim the experience and goodwill of the partnership firms provided all partners become the member of the compnay and managing partner became the managing director of the proposed company.

3. If the partnership firm is take over by an existing company is it posibile to claim the experience of the partnership firm provided some partners already the member of the company and managing partner is also the managing director of the company. After take over all partners become the member of the company.

4. The issue of claiming experience is arised due to the partnership firm is doing contract business so previous experience is a critical factor in bidding.

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)

13 February 2008 1.Yes
2.What is the manner of claim?

CA vikash Jain

CA vikash Jain (Expert)

13 February 2008 yes you can go for chapter IX procedure where you can convert your partnership to a limited company with all the essential character of [partnership firm

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