Conversion of partnership firm into llp
Anooj (Chartered Accountant) (2130 Points)
09 March 2012
Conversion of Partnership Firm into
Limited Liability Partnership
The procedures to convert an existing
partnership firm to limited liability
partnership (LLP) are provided below: Key Requirements: The Partnership Firm should be
registered under the Indian
partnership Act 1932. All the partners of existing firm
should become the partners of LLP Minimum 2 partners as Designated
Partners and one of them should be
Resident in India Digital Signature Certificate for one
of the Designated Partners LLP (Limited Liability Partnership)
Name LLP (Limited Liability Partnership)
Agreement Registered Office for the existing
partnership firm Procedure of Conversion with
Company Law Compliances: Approved DPIN (Designated Partner
Identification Number) is a pre
requisite for incorporation process.
However if the partner is already
holding a DIN, the same can be
used for the purpose of DPIN; Application for name approval is to
be made by filling Form 1. Consent
of each of the partners of the firm
for conversion of the firm into LLP
shall be attached to Form; File e form 2 (Incorporation
documents, statement of partners,
registered office etc.); File e form 4 and form 9, wherein
consent of each partner to become
a partner of Liability Partnership
and appointment of designated
partner is to be provided; File application for conversion in
Form 17 together with the
statement of partners and required
documents; File E – Form 3 (LLP Agreement) –
this can be filed within thirty days
from the date of registration; After verification, registrar will
register all documents and issue
Certificate of registration; Upon registration of LLP, an intimation
to be filed to the Registrar of Firms
stating the fact that the firm is
converted into LLP.