Dear CCI Members,
My client is a partnership firm, they want to get converted into Private Limited company under Part IX of Companies act, 1956.
I have some queries :
1) I got to know that there should be minimun 7 partners in the firm to get itself converted... currently the firm has only 3 partners. How should I change to 7... Should i amend the partnership deed?
2) Next requirement what I heard is 3/4th of the member should give assent to conversion... Is it a type of Resolution ? to be passed in a meeting ..... Kindly let me know is there any format for such resolution?
3) My client's requirement to convert as a pvt ltd company from 1.4.2012. Thereby the partners capital in the firm will be known only on 31st March 2012 which is yet to come (Finalization of accounts to be done).. So how should I go about it, since I read that the Company should issue shares in the same proprotion which is existing in the balance sheet of the firm at the date of conversion.
4) After conversion, how should I change the name in PAN, TAN, ESI, PF, ST, ED, VAT and CST.
Kindly let me know the procedure ...,
Thanks in advance
CAclubindia
