CONVERSION OF LLP TO PRIVATE LIMITED COMPANY
Operating an Limited Liability Partnership form of business organization can be a hurdle as another form of business organization offers better opportunities for the growth & expansion of the business. Therefore, remarkable benefits offered by the other organizational structures will attract shareholders. Thus, that would lead to the conversion of LLP into a Private Limited Company.
Earlier it was not possible to convert an LLP into a private limited company. However, as per section 366 of the Companies Act, 2013, any partnership firm or LLP, cooperative society, or any other business entity which is incorporated under any other law and which has two or more members can get themselves registered as an unlimited company or as a company limited by shares or a company limited by guarantee.MINIMUM REQUIREMENTS FOR CONVERSION OF LLP TO PRIVATE LIMITED COMPANY* Minimum 2 Shareholders* Minimum 2 Directors are required* Minimum 2 Rupees Share Capital* DIN & DSC’s for all the Directors* LLP must be registered
Identity and the address proof will be needed for all the directors and the shareholders of the company to be incorporated. In case of an Indian national, PAN card is mandatory. For the foreign nationals, apostatised or notarised copy of the passport has to be submitted mandatory. The residence proof documents like the bank statement or the electricity bill must be less than 2 months old.
Scanned Copy of LLP Agreement.
A written statement and no objection certificate from all creditors.
To prove admittance to the registered office, a recent copy of electricity bill or gas bill or water bill or telephone bill must be submitted. Along with the rental agreement, utility bill or the sale deed and a letter from the landlord with her/ his consent to use the office as a registered office of the company should be submitted.
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