Most companies that are cropping up today are private limited companies and despite the fact that LLPs have certain exemption, we often come across a business own who wants to switch his company into a private limited company. The procedure can be a tad difficult for business owners to understand. So here’s simplifying the process of conversion of LLP to a private limited company.
Before the incorporation process begins, an LLP, which is supposed to have at least 7 partners, has to get approval from all the partners. An NOC has to come from the Registrar Of Company. The news has to be spread via ads in newspapers.
Name of the company
The company has to approach the Registrar Of Company to get the name of the company approved. The application is made in e-form and once the approval is given, it stands authority for 60 days.
DSC and DIN
In case the partners do not have DSC and DIN, they have to apply for the same via MCA’s portal.
Form URC-1 must be duly filed and it should consists of lists of the members, first directors of the company, and affidavit from the proposed directors that he isn’t banned from being the director, copy of LLP agreement, details of the partners of LLP, NOC, Ad copy etc.
MoA & AoA
Memorandum of association and article of association has to be prepared and filed with the Registrar of Company.
To know more about any of these aspects employed for conversion of an LLP to Private limited company, you may mail [email protected]