hi can unregistered partnership firm converted in company if yes than pls guide me a procedure of conversation
5th November 2012 From India, Mumbai
Dear Hirenvora,
A partnership firm can most definitely be converted into a private limited company. The essentials would be meeting the requirements of incorporation of a company. Broadly put, these would be the following
A minimum number of 7 partners/ borad of directors required
The minimum share capital of Rs. 100000
The Firm's paid up capital shall need to be divided into shares of the company
The Memorandum of Association shall need to be redrafted- specifically the object clause enabling the company to acquire the assets and liabilities of the partnership
Of course, these are a mere outline you would need to consult a lawyer in order to put plans to action. You will appreciate your lawyer would be able to give you detailed advice depending on your specific case.
Regards,
Citelegal
5th November 2012 From India , Delhi
Add Reply Start A New Discussion

Cite.Co - is a repository of information created by your industry peers and experienced seniors. Register Here and help by adding your inputs to this topic/query page.
Prime Sponsor: TALENTEDGE - Certification Courses from top institutes like IIM / XLRI direct to device (online digital learning)





About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2019 Cite.Co™