A Private Company desires to convert its status to LLP Form shall foremost decide the designated Partners of the proposed LLP, as only the members can be the Partners of the converted LLP and of these members of the company at least two Partners would be the Designated Partners.. In case of Body Corporate who was the member of the Company, desires to act as designated partner of LLP, in that case their nominee can be appointed as the designated Partners.
Parameters for deciding Designated Partners:
In case of conversion of Private Limited Company into LLP, all the shareholders of the Company to be partners in the LLP and no one else and also there will be no security interest subsisting or in force at the time of application in the assets of the Company.
A person ‘Resident in India’ means a person who has stayed in India for a period of not less than one hundred and eighty two days during the immediately preceding one year. (Explanation to Section-7())
‘Designated Partner’ means a partner who is designated as such in the incorporation documents or who become a designated partner by and in accordance with the Limited Liability Partnership Agreement.
List of documents required
STEPS/CHECKLISTS FOR CONVERSION OF PVT CO. INTO LLP
|1.||Apply for Din No.( If a person already has a DIN, the same can be used for forming LLP.)||e-form DIR-3|
|2.||Call BM- to change name – ending with word LLP|
|3.||File Form for Name approval with work LLP(Rule 18(5) of the Limited Liability Partnership Act 2008, for reservation of the desired name of the LLP)||E-form INC-1(Attached Board Resolution)|
|4.||ROC issue name approval certificate|
|5||Draft LLP Agreement|
|6.||Incorporation documents with registrar||File e-form -2 ( Attached Given below)|
|7.||Application of Conversion||e-form – 18(Attached Given Below)|
|8.||LLP Agreement- within 30 days of approval of above forms||e-form- 3(Attached LLP Agreement)|
|9.||incorporation certificate is issued by department|
|10.||Intimation of Conversion to Registrar (provisions of the Companies Act, 2013 sec 1 of 2013)||e-form-14(within 15 days from receipt of COI)|
Attachments with LLP Form-18:
Attachments with LLP Form-2