As per Section 366 of the Companies Act, 2013, LLP or any other partnership firm consisting of 7 or more members can be registered as a company limited by shares.
But this restriction of 7 or more members is applicable for conversion into Private Company also? And then a LLP consisting of 3 members can-not be converted into a pvt ltd company?
Requirement of having minimum seven or more members is restricting LLPs with less partners from conversion. Any LLP having less number of partners willing to convert itself into Company must increase its number of partners
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