LLP to Pvt

Conversion of Company from LLP to Private Limited: Overview

The conversion of a Limited Liability Partnership (LLP) to a Private Limited Company involves changing the legal structure to enjoy the benefits of a private limited entity, such as enhanced credibility, easier access to funding, and a more recognized corporate status. This conversion process is governed by the Companies Act, 2013.

Process:

• Partners’ Resolution: Partners of the LLP need to pass a resolution approving the conversion and deciding the terms of the conversion, including the shareholding pattern.
• Name Approval: Reserve a new name for the Private Limited Company with the Registrar of Companies (ROC) and ensure it complies with naming guidelines.
• Application for Conversion: File an application for the conversion with the ROC, along with the required documents, including the LLP agreement, Form URC-1 (Application for Registration as a Company), and Form INC-32 (Integrated Incorporation Form).
• Drafting of Memorandum and Articles of Association: Draft the Memorandum of Association and Articles of Association for the new Private Limited Company.
• No Objection Certificate (NOC): Obtain a No Objection Certificate (NOC) from all existing creditors and partners of the LLP.
• Issuance of Certificate of Incorporation: Upon approval from the ROC, a Certificate of Incorporation is issued for the Private Limited Company.
• Allotment of Shares: Allot shares to the partners of the former LLP in accordance with the agreed terms.
• Transition of Assets and Liabilities: Transfer assets and liabilities from the LLP to the newly formed Private Limited Company.

Documents Required:

• LLP Agreement
• Form URC-1 (Application for Registration as a Company)
• Form INC-32 (Integrated Incorporation Form)
• Memorandum of Association and Articles of Association
• Consent of Partners
• No Objection Certificate (NOC)
• Address proof, identity proof, and photographs of directors

Why Hire Lawtech for This Service:

• Legal Expertise: Lawtech provides legal expertise to guide you through the regulatory requirements and legal aspects of the conversion process.
• Documentation Support: Assisting in the preparation and submission of all required documents, ensuring compliance with the Companies Act, 2013.
• Customized Solutions: Tailoring the Memorandum and Articles of Association to meet the specific needs and preferences of the partners.
• Compliance Assurance: Ensuring that the conversion process complies with all statutory and regulatory requirements.
• Timely Execution: Efficiently managing the conversion process to meet all deadlines and avoid delays.
• Transition Planning: Providing assistance in the smooth transition of assets and liabilities from the LLP to the Private Limited Company.
• Post-conversion Compliance: Guiding through post-conversion compliance requirements applicable to Private Limited Companies.
• Conflict Resolution: Addressing any legal issues or conflicts that may arise during the conversion process.

By engaging The Lawtech for the conversion of your company from an LLP to a Private Limited Company, you benefit from professional legal support, ensuring a seamless and legally compliant transition.