Conversion of partnership firm to llp

LLP 1128 views 3 replies

Dear Professional Colleagues,

I want to know whether for conversion of partnership firm to LLP, is it mandatory that the partnership firm should be registered with registrar of firms.

In case anyone has procedure for conversion to LLP please send the same.

Thanks and Best regards

Purvi Kakani

Replies (3)

It is not complusory to register a partnership with the registrar of firms, But for smooth functioning of partnership firm and for protecting the right of partners the partners get their partnership agreemnt registered with the registrar of firms the procedure for converting the partnership into llp are as follows:-

  • Obtain DSC for both the partners
  • File the application for allotment of DPIN (Designated Partners identification number)
  • File the application for reservation of name of llp (Form-1)
  • After the name is approved file the form 17 with the following document
  • Consent of partner to convert the partnership into LLP
  • NOC from the income tax department
  • Financial statement of Partnership Firm
  • List of creditor along with their consent to convert the partnership into LLP

After verifying the document the ROC issued the certificate

Ok sir, thanks for this reply.

Best Regards

Purvi Kakani

In case of conversion from partnership firm to LLP, whether LLP agreement will be required to be prepared? If yes, whether the same is required in the same format as normal LLP agreement (i.e. when new LLP is formed)

Further, it seems that Form 14 needs to be submitted with the registrar of Firms on conversion of LLP from Partnership firm....Is that same also required if the partnership firm was not registered with the registrar of firms?
 


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