Conversion of PRIVATE LIMITED COMPANY to LLP

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

27 August 2010  

PRIVATE LIMITED COMPANY to LLP
Preconditions for conversion

* The company should be registered under Companies Act, 1956
* There should not be any security interest subsisting on the assets of the company at the time of application
* Partners of LLP should comprise all the shareholders of the company and no one else.
* 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

Procedure

* Obtain name approval for LLP (Limited Liability Partnership)
* Application for conversion of firm to LLP in Form 18
* 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
* Up on registration of LLP, file an intimation to the Registrar of Companies in Form 14 stating the fact that the company is converted into LLP