Conversion of company to llp

[Kavneet Kaur]

Dear member

We have a pvt ltd company in which directors and shareholders are different, which means the directors don’t hold the shareholding in the company but other persons hold! Now we wish to convert it in llp so what can we do for this? As in fillip form we have the option to write designated partner holding shares but we have other persons holding the shares

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Thanks & Regards,

CS KAVNEET KAUR

[Saurav Choudhary]

 

Dear CS Kavneet Kaur

 

only the shareholders of the Pvt Ltd company are entitled to become Partners in the LLP upon conversion. Therefore, if the existing directors are not shareholders, they will have no role or standing in the resultant LLP.

 

However, if the intention is to include the directors as Designated Partners in the LLP, Then

 

Step to be taken BEFORE initiating conversion-

 

Transfer of Shares to the Directors

 

Prior to filing for conversion, the shareholders should transfer their shares to the directors (wholly or partially, as per mutual agreement) through a proper Share Transfer Deed in Form SH-4, duly executed and stamped.

 

Once the share transfer is completed and updated in the Register of Members, the directors will become shareholders of the company.

 

Thereafter, they will be eligible to become Partners and consequently, Designated Partners in the LLP at the time of conversion.

 

 Best Regard
Saurav Choudhary

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[Kavneet Kaur]

Ok now i understand.. thank you so much

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[Ashish Gupta]

Dear Mr. Saurav

well explained

 
AKG & CO
COMPANY SECRETARIES
FCS Ashish Gupta

C.P. No.: 6859

Peer Review No.: 766

A-16 Jitar Nagar, Parwana Road

Near Preet Vihar Metro Station, Delhi - 110051

09312210264

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[Saurav Choudhary]

Thanks Sir 

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