WHAT ARE THE PROCEDURE OF CONVERSION PROPRIETORSHIP FIRM CONVERT INTO PVT LTD CO.
PLZ HELP ME
IS ANY AGRREMENT COPY REQUIRED OR OTHER FORMALITIES DONE
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Conversion
Replies (2)
Properitership firm cannot be converted although a partnership firm can be converted.
The same business can be taken over by incorporating a new company i.e. 2 or more members in case of a private company and subsequent obtaining of DIN, DSC and filing E-Form 1A, 1,18,32
Thanks & Regards
Amit Mishra
BSamrish & Co.
You cannot convert proprietorship concern into company. However a company can take over the business carried by a sole proprietorship. For this you need to incorporate a company following usual formalities viz., getting the name approval by filing Form 1A and then within 60 days of name approval filing Form 1 for Incorporation alongwith MOA, AOA, Form 18 , Form 32 and Power of Attorney.
However in the main object clause of MOA specify taking over the business of M/s. ....................(Proprietorship name) as one of the main objects.
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