Conversion of Sole Proprietorship into LLP Firm

[Mohit Khanna]

Dear Members,

Please guide on this query:

One of my client wants to convert his proprietorship entity into LLP Firm.

Can we convert a proprietorship entity into LLP Firm because in Form-1LLP there is only option is to

convert a firm or company into LLP.

Or if we cannot convert a proprietorship into LLP, then can we convert it into private limited Company.

Please reply as soon as possible

Thanking You

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Best Regards

CS Mohit Khanna

[CS SANDIP LATHIYA]

 

Good Evening,

Partnership firm can convert in Private Company by Filling URC-1, But in that case Minimum 7 member require for Incorporate company.

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B-10, LORDS NEST,
OPP. CHANDKHEDA MUKTIDHAM
NEAR CHANDKHEDA NAGAR PALIKA
CHANDKHEDA
AHEMDABAD-382424

 

Contact :- (M) +91 96246 40038

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[Mohit Khanna]

Dear CS Sandip,

My query is for sole proprietorship. Can a sole proprietorship convert into LLP or Company. Please reply

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[CS SANDIP LATHIYA]

 

Good Evening,

Yes, can convert,But required 7 member at the time of INCORPORATION. 

P Save a tree. Don't print this e-mail unless it's necessary. 

 

B-10, LORDS NEST,
OPP. CHANDKHEDA MUKTIDHAM
NEAR CHANDKHEDA NAGAR PALIKA
CHANDKHEDA
AHEMDABAD-382424

 

Contact :- (M) +91 96246 40038

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[Adarsh Pandey]

No, it cannot be converted directly as such. However, a company can be incorporated to take over the business of a properietorship. 

One of the main objects of such company should be taking over the business of abc properietorship.

[Mohit Khanna]

Dear CS Sandip and CS Adarsh,

These are contradicting replies below. Shall I conclude that sole proprietorship cannot be converted into LLP and also Pvt. Company but

can be taken over by Pvt. Company if it is in main objects of that Pvt. Company.