While converting partnership firm into Private limited Company ,under Sec 565 of Company Act 1956 there is requirement of at least 7 Members , is it possible to float company with 3 partners?.
Plaese reply urgently.
3 Replies
DHARMENDRA PRAJAPAT
(CA FINAL)
(105 Points)
Replied 21 December 2013
Section 565 of the Companies Act, 1956 provides that any company formed in pursuance of any Act of Parliament or any other Indian Law other than the Companies Act, 1956; consisting of seven or more members may at any time register itself under this Act, either as an unlimited company or as a company limited by shares or limited by guarantee.
I think the minimum number of members is 2 to form a private limited company.
sweta
(CA)
(36 Points)
Replied 21 December 2013
Thanks for replying but yet not satisfied.
While converting Partnership firm into Private limited company,there are certain condition where atleast 7 partner are required.
Still my question is, it is possible to convert Partnership firm into Private limited company with 3 partners.
Dileep Panchal
(ASSISTANT CS)
(189 Points)
Replied 26 December 2013
No, there should be 8 partners in the firm then only a court can consider it as an unregistered Company.
Recent Topics
- Clarity regarding Sec 16(4)
- GST ON HOTEL ROOMS details
- Relief for Delayed Filing of Tax Forms
- Expire stock
- INCOME TAX AY 25-26
- Experienced CA firm for accounting & auditing
- Regarding Perquisite Tax on ESOP - Unlisted Compan
- Casual Taxable Person under GST
- Extended Date of GSTR-1 for the month of July 2020
- NRO Interest - Taxed at source and in Foreign Coun
Related Threads
CAclubindia
