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Transforming your business structure with precision and compliance - LLP to Pvt Ltd made easy with expert filings.
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An LLP can be converted into a Pvt Ltd company under Section 366 of the Companies Act, 2013.
The conversion process involves filing certain documents with the Registrar of Companies (RoC) and obtaining their approval
The conversion will result in the creation of a new entity, with a new PAN and TAN number
Limited liability protection to shareholders: One of the primary benefits of a Pvt Ltd Company is that it offers limited liability protection to its shareholders. This means that the personal assets of the shareholders will not be used to pay off the company's debts or liabilities.
Greater access to funding options: Pvt Ltd Companies have a better reputation and image in the market, which can help in attracting investors and obtaining funding options from banks and financial institutions.
Improved credibility: A Pvt Ltd Company has a separate legal identity, which gives it greater credibility in the market. It is perceived as a more stable and reliable entity compared to an LLP.
Ability to issue shares with differential rights: A Pvt Ltd Company has the ability to issue shares with differential rights such as voting rights, dividend rights, etc. This can be beneficial in attracting investors who are looking for specific rights and privileges.
No, LLPs with a turnover of over Rs. 60 lakhs or a capital contribution of over Rs. 25 lakhs are not eligible for conversion.
The process can take anywhere between 20-30 days, depending on the RoC's processing time.
Yes, a minimum of 2 directors is required for a Pvt Ltd Company.
No, the existing contracts and agreements of the LLP will remain in force and continue to be binding on the newly incorporated Pvt Ltd Company.
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