Please elaborate on how to convert a private limited company into a partnership firm.
r.kulasekar (Properitor) (61 Points)
07 October 2009Please elaborate on how to convert a private limited company into a partnership firm.
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 08 October 2009
Hi,
As per my suggestion conversion of private Limited Company in to a partnership is not a good idea.
However one option would be to wound up your company and thereafter you can carry on the business in the name of firm by forming a partnership which can be created by a partnership deed.
Other views solicited.
Regards
Private company can not be converted to Partnership/Propreitor ship firm.
It has only 2 options
(1) Convert it as the Public Company
(2) Convert it as the LLP
And LLP is the extended form of Partnership.
So, By converting it into LLP, you would get all the benefits of the Partnership Firm.
Plus One benefit of Limited Liability.
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If you need further clarification than contact me
Ankur Shah (Practicing Company Secretary)
“Guru Gautam” Bungalow, Inside Parshwa Tower,
Nr. Shyamal Cross Road, 132ft. Ring Road,
Satellite, Ahmedabad – 15
Contact: + 91-9427633901
E-mail: ankurjewel @ gmail.com
Blog:csankur.blogspot.com
CA Mohit Daga
(Looking for a job)
(25 Points)
Replied 04 November 2009
how is revaluation reserve to be treated in conversion of firm into a co.
KIRIT
(CHARTERED ACCOUNTANTS)
(86 Points)
Replied 16 August 2011
Reconversion of LLP to nrmal firm is not possible????????
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