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Procedure for changing proprietory firm into pvt. ltd.

amruta Khopkar (accountant) (23 Points)

27 September 2020

procedure for changing proprietory firm into pvt. ltd.

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Keyur Sukhwani (10 Points)
Replied 29 September 2020

For converting proprietorship firm into Pvt Ltd Company first of all a Pvt company should be incorporated with minimum 2 director and 2 shareholder. The proprietor shall hold majority shares in such company. After that proprietorship firm that is to be converted shall enter into slump sale agreement with such newly formed company.

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