PART IX CONVERSION OF PARTNERSHIP FIRM INTO LTD COMPANY

K S.Suryanarayanan (33 Points)

03 March 2008  
what is the procedure to be followed for conversion of Parnership into a private ltd company Please clarify my following doubts 1. Can the minors who are parners in the firm be counted for the total of seven partners required as per companies act 2. Can HUF, a partner in the firm, be taken as on of the seven partners. 3. After conversion into a pvt ltd company, should the company pay the stampduty for registration of the immovable property  in the company;s name. 4. Suppose the partner's have both capital and current account in the firm's books, whether both will be added for the issue of shares in the ltd company 5. can we issue shares at a premium 6. Can we issue shares for part amount due to the partner and balace be treated as loan with interest.Can this be done if such a clause is provided in the partnership deed. CA SURYANARAYANAN