Conversion of Sole Proprietorship into Pvt. Ltd. Co. as per CA 2013

[Pratik Kalsariya]

Dear All,

A fresh and energetic Monday morning..

Can any one let me know, the provisions relating to conversion of existing sole proprietorship concern into Pvt. Ltd. Company under the Companies Act, 2013 and rules made thereunder. Also let me know about the list of procedures to be followed in the process.

I have little idea that Section 366 of CA 2013 have provisions relating to registration of entities under the CA 2013.

Please throw a light on this matter.

Thanks & Regards,

CS Pratik Kalsariya

Practicing Company Secretary

[Ganga Anil Kumar]

Dear Friend,

I think there is no provision that talks about conversion of Sole Proprietorship into Pvt Company.

The Section 366 of CA 2013, says any company/entity that is registered under any law can be registered under this section and the Sole Proprietorship is not an entity registered under any law.

The normal practice and better process for your requirement is:

1. Form a Private Limited Company

2. obtain valuation for Sole Proprietorship Assets & Liabilities, if such a big entity

3. Acquire that Sole Proprietorship

4. if you want to issue/allot shares then allot for kind

Thanking you,

Warm Regards

CS Anil Kumar Ganga | Chennai | India | +91 87545 95549 (TN) | +91 80082 99901 (AP)

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[Pratik Kalsariya]

Dear Sir,

Thanks for sharing the valuable info.

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