Monday, 23 January 2017

CONVERSION OF LLP INTO PART 1 COMPANY

CONVERSION OF LLP INTO PART 1 COMPANY

Any partnership firm, limited liability partnership, cooperative society, society or any other business entity formed under any other law for the time being in force consisting of seven or more members, may at any time register itself under Companies Act, 2013 as a Part I Company. For this purpose, eForm URC-1 shall be filed along with eForm INC-7.
Condition- There must be minimum 7 or more members in existing LLP.

1.       For Filing an Application ensure that:
·         Secured Creditors have given their consent.
·         Notice in Newspaper, Seeking Objections.
·         General Meeting of Partners.

2.       Obtain DIN and DSC for all Members.
3.       INC-1 Name approval.
4.       After name approval file Form no. –URC-1. Attachments-
·         A list of details of all members. (Name,addresses,occupation,shareholding) who not more than six days before the day of filing were partner of LLP.
·         Affidavit from all persons proposed to be Director that he/she not disqualified.
·         A copy of LLP Agreement and Certificate of incorporation duly verified by at least two designated Partners of LLP.
·         A statement specifying nominal share capital, no. of shares, amo. To be paid for each share.
·         Written Consent or No Objection Certificate from all secured creditors.
·         Written consent from majority of members whether present or by proxy at a general meeting agreeing for conversion.
·         An Affidavit duly notarised from all members/partners that in the event of registering as a company under part I Chapter XXIOf the Companies Act, 2013 , necessary documents or papers shall be submitted to the registering or other authority with which the company was earlier registered for dissolution as LLP.
·         Statement of accounts of the company prepared not later than 6 days preceding the date of application certified by the auditor.
·         Declaration of two or more directors verifying the particulars of all members/partners.
·         Copy of newspaper advertising.
·         Certificate from PCS/PCA
·         NOC certificate from the concerned registrar of LLP.

5.       Prepare MOA/AOA.
6.       Filing of Incorporation Forms.
·         INC-7
·         INC-22
·         DIR-12


7.       Certificate of Incorporation.

For more details, contact CS Neha Seth at 9871903449 or email us at csnehaseth@gmail.com or csnehaseth.cp@gmail.com

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