Ask 4 Compliance | Conversion of LLP to Private Limited Company
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CONVERSION OF LLP INTO PRIVATE LIMITED COMPANY

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CONVERSION OF LLP INTO PRIVATE LIMITED COMPANY

According to the Ministry of Corporate Affairs, “Conversion of LLP into private limited company would not be allowed under LLP Act. However, enabling provisions would be required to be made in the Companies Act for such conversion. Necessary action in this regard would be taken when Companies Act would be revised.” However, a new company can be formed

 

Reason for Choosing Private Limited Company Registration

  • LLPs do not have the concept of shareholding. Venture Capitalists and Private Equity Investors –who do not wish to actively participate in the management of the Company, do not approve this kind of arrangement. Hence, equity investors will only invest in a Private Limited Company.
  • Foreign Direct Investment (FDI) in a private limited company is under the automatic route whereas FDI in LLP is under the approval route. Therefore, foreign or NRI promoters prefer incorporation of a private limited company mostly.

Our team of highly qualified professionals at Ask4compliance.com can help you in Conversion of LLP to Private Limited Company by completing the necessary procedures as per Companies Act, 2013.

Process & Timeline

8-12 days

Professional Fees

Rs. 7500

(GST, Government Fees and other Out of Pocket Expenses Extra)

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DOCUMENTS REQUIRED FOR CONVERSION OF LLP INTO PRIVATE LIMITED COMPANY

  • A list showing the names, addresses, and occupations of all persons named therein as members with details of shares held by them.
  • A list showing the particulars of persons proposed as the first directors of the company.
  • An affidavit from each of the persons proposed as the first directors, that he is not disqualified to be a director under sub-section (1) of section 164 and that all the documents filed with the Registrar for registration of the company contain information that is correct and complete and true to the best of his knowledge and belief.
  • A list containing the names and  addresses of the partners of the Limited Liability Partnership.
  • Copy of LLP Agreement.
  • A statement of assets and liabilities of the Limited Liability Partnership duly certified by a chartered accountant in practice which is made as on a date not earlier than thirty days of the filing of form no.URC1.
  • A copy of latest income tax return of the Limited Liability Partnership.
  • An undertaking that the proposed directors shall comply with the requirements of Indian Stamp Act, 1899 (2 of ‘1899).
  • Written consent or No Objection Certificate from all the secured creditors of the applicant.
  • Written consent from the majority of Partners.
  • MOA & AOA
  • INC-9
  • Undertaking for non-acceptance of Deposit
  • DIR-2etc.

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