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Conversion from PARTNERSHIP firms to LLP

CA. SANAT PYNE (F.C.A. & M.COM) (16757 Points)

27 August 2010  

PARTNERSHIP firms to LLP

the precondition for conversion for your partnership firm are:

* Partnership should be a registered under Indian partnership Act 1932
* All the partners of existing firm should compulsorily become the partners of LLP
* Minimum 2 partners as Designated Partners and one of them should be Resident in India
* Digital Signature Certificate for one of the Designated Partners
* LLP (Limited Liability Partnership) Name
* LLP (Limited Liability Partnership) Agreement
* Registered Office for the existing partnership firm

Procedure for conversion

* Obtain name approval for LLP (Limited Liability Partnership)
* Application for conversion of firm to LLP in Form 17
* File the following forms along with a statement by all partners with registration number and date of registration of the firm.
Form 2 : Details of partners, registered office etc
Form 4 : Consent of Partners – Consent of each partner to become a partner of Liability Partnership
Form 3 : LLP agreement – this can be filed with in 30 days from the date of registration

* After verification, registrar will register all documents and issue Certificate of registration
* Upon registration of LLP, file an intimation to the Registrar of Firms stating the fact that firm is converted into LLP

 

 


 3 Replies

MOONMOON (finance manager) (123 Points)
Replied 27 August 2010

very useful information sir.

Neetu Agrawal (PCS) (213 Points)
Replied 13 December 2010

Dear Mr. Sanat,

In case the firm is nt registered under IPA, 1932, den hw to convert that firm into LLP?. Whether to incorporate it as a new LLP or hv to register under IPA n den convert it. Any other views.......

Aakriti Tambi (CS) (21 Points)
Replied 22 August 2012

Sir, Kindly clarify, Is it mandatory to make the coversion with the same name.

As per sechedule 2 of LLP Act, 2008 it is no where mentioned that M/S ABC can be converted to ABC LLP only.

Can it be converted in XYZ LLP ? if the same is approved through FORM 1


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