PARTNERSHIP TO PRIVATE LIMITED

Description

The process for converting a Partnership firm to a Private Limited Company involves the following steps: Obtain a Digital Signature Certificate (DSC) for the proposed Directors of the Private Limited Company. Apply for Director Identification Number (DIN) for the proposed Directors of the Private Limited Company. Conduct a meeting of all the partners of the Partnership firm and pass a resolution to initiate the process of conversion and authorize a partner or a Company Secretary to make an application to the Registrar of Companies for conversion. Apply for a new name for the Private Limited Company by filing Form INC-1 with the Registrar of Companies. The name must be unique and not similar to any other existing company or LLP. Draft and file the Memorandum of Association (MoA) and Articles of Association (AoA) of the Private Limited Company with the Registrar of Companies. The MoA and AoA must be in compliance with the Companies Act, 2013 and contain the details of the shareholders, directors, share capital, etc. File Form URC-1 with the Registrar of Companies within 30 days of filing Form INC-1. This form includes the application for conversion along with the following documents: Copy of the Partnership Deed Copy of the latest Income Tax Return of the Partnership firm List of Directors of the Private Limited Company Consent of the Directors to act as Directors of the Private Limited Company Statement of Share Capital Obtain approval from Registrar of Companies: Upon verification of the documents and satisfaction of the Registrar of Companies, the Registrar will approve the conversion and issue a Certificate of Incorporation. Update PAN and other registrations: After the conversion, update the Permanent Account Number (PAN) and other registrations with the respective authorities. The list of documents required for the conversion of a Partnership firm to a Private Limited Company are as follows: Copy of the Partnership Deed Copy of the latest Income Tax Return of the Partnership firm List of Directors of the Private Limited Company Consent of the Directors to act as Directors of the Private Limited Company Statement of Share Capital Copy of PAN card and address proof of all the Directors of the Private Limited Company