Conversation into a company.
This query is : Resolved
26 April 2016
I am converting a proprietorship concern into a pvt ltd company.
Capital of proprietor is Rs.45 lac.
is it possible that I keep the capital of the company at Rs 1 lac and Security premium of rs 44 lac.
or there is better alternative?
27 April 2016
There is no direct provisions in the Companies Act 2013 by which you can directly convert Proprietorship into Company. You need to incorporate a Company first and then you need to buy business of Proprietorship as a whole.
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