Procedure for conversion Private Limited Company to LLP (Lim

CA Shree Jain (Chartered Accountant) (1572 Points)

12 June 2010  

Procedure for conversion Private Limited Company to LLP (Limited Liability Partnership)

Preconditions for conversion:

1.       The company should be registered under Companies Act, 1956

2.       There should not be any security interest subsisting on the assets of the company at the time of application

3.       Partners of LLP should comprise all the shareholders of the company and no one else.

4.       Minimum 2 partners as Designated Partners and one of them should be resident in India

5.       Digital Signature Certificate for one of the Designated Partners

6.       LLP (Limited Liability Partnership) Name

7.       LLP (Limited Liability Partnership) Agreement

8.       Registered Office

Procedure for conversion:

1.       Obtain name approval for LLP (Limited Liability Partnership)

2.       Application for conversion of firm to LLP in Form 18

3.       File the following forms along with a statement by all partners with registration number and date of registration of the firm.
Form 2 : Details of partners, registered office etc
Form 4 : Consent of Partners – Consent of each partner to become a partner of Liability Partnership
Form 3 : LLP agreement – this can be filed with in 30 days from the date of registration

4.       After verification, registrar will register all documents and issue Certificate of registration

      5. Up on registration of LLP, file an intimation to the Registrar of Companies in Form 14 stating the fact that the company is converted into LLP