LLP to Company Conversion-Allotment of shares

This discussion explores the process of converting a Limited Liability Partnership (LLP) into a private limited company. The specific case involves two designated partners, each with a 50% stake in the LLP, who wish to transfer ownership and directorship to new individuals upon conversion. The core question is how to achieve this share allotment and directorship transfer according to relevant acts, ensuring the original partners hold no shares or directorships in the new company.