could anyone say whether there is any provision in law to convert a private company nto a registered partnership firm. or winding up of the pvt co is the only option available
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
I would like to know that after conversion of partnership concern into pvt ltd company what would be the effect of arbitration clause contained in partnership deed. Also let me know if recourse can be had to arbitration clause contained in articles of association by filing a petition under sec 11 of the arbitration and coincilation act 1996 or there is any legal impediment preventing recourse tosuch action
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
Procedure given in Chapter IX of Companies Act
1. Minors can not be members directly.
2. HUF can not, but the Kartha can. Kartha will be considered as member
3. No
4. Yes
5.Yes
6.Yes
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