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LLP to Company Conversion-Allotment of shares

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Kalyan Kumar Astakala

Director

31 Points Posted on 08 July 2021

Case: Conversion of LLP to private Limited Company Limited by shares

Scenario: Designated Partners (2), each holding 50% share in LLP.

Objective: No designated partner shall hold shares or directorship in new company. New individuals will become the first directors cum subscribers.

Can any expert help me out how can I do that and what is possible according to Act.

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Quick Summary

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.