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A proprietary business may be converted into a company or a partnership firm may be converted into a company. A company is incorporated by making the sole proprietor as one of the subscribers to the Memorandum i.e. he becomes the first member. In case of partnership firm all the partners become subscribers to the Memorandum of the new company. Or, the new company which is incorporated takes over the sole proprietorship or the partnership firm. There must be specific provision in the Memorandum of the new company for taking over other business as one of its objects and powers must be given to the Board of Directors by the Articles of the new company, to enter into agreements for acquisition of business.
To know more about conversion of your proprietorship to pvt ltd company or to get your proprietorship converted you can visit:
From India, Peddapuram
To know more about conversion of your proprietorship to pvt ltd company or to get your proprietorship converted you can visit:
From India, Peddapuram
CONVERSION OF A PROPRIETORSHIP INTO A PRIVATE LIMITED COMPANY
A proprietary business may be converted into a company or a partnership firm may be converted into a company. A company is incorporated by making the sole proprietor as one of the subscribers to the Memorandum i.e. he becomes the first member. In case of partnership firm all the partners become subscribers to the Memorandum of the new company. Or, the new company which is incorporated takes over the sole proprietorship or the partnership firm. There must be specific provision in the Memorandum of the new company for taking over other business as one of its objects and powers must be given to the Board of Directors by the Articles of the new company, to enter into agreements for acquisition of business.
STEPS INVOLVED IN THE CONVERSION OF PROPRIETORSHIP OR PARTNERSHIP INTO A PRIVATE LIMITED COMPANY.
1. The first step will be incorporation of a new company with the required provisions in the Memorandum and the Articles.
2. A resolution to acquire the other business shall be passed at a General Meeting requesting the Board of Directors to do the needful.
3. The Board of Directors shall enter into an agreement with the firm for its acquisition.
4. A copy of the agreement shall be filed with the Registrar within 30 days.
5. Shares have to be allotted by the Board of Directors to the partners of the firm so acquired (if it is a partnership firm) according to the terms of agreement.
6. A return of such allotment has to be filed with the Registrar within 30 days to complete the registration.
For help with the conversion of your existing proprietorship firm into a private limited company or for the formation of a new private limited company, visit <link outdated-removed> ( Search On Cite | Search On Google ) and talk to one of the Business Experts.
From India, Chennai
A proprietary business may be converted into a company or a partnership firm may be converted into a company. A company is incorporated by making the sole proprietor as one of the subscribers to the Memorandum i.e. he becomes the first member. In case of partnership firm all the partners become subscribers to the Memorandum of the new company. Or, the new company which is incorporated takes over the sole proprietorship or the partnership firm. There must be specific provision in the Memorandum of the new company for taking over other business as one of its objects and powers must be given to the Board of Directors by the Articles of the new company, to enter into agreements for acquisition of business.
STEPS INVOLVED IN THE CONVERSION OF PROPRIETORSHIP OR PARTNERSHIP INTO A PRIVATE LIMITED COMPANY.
1. The first step will be incorporation of a new company with the required provisions in the Memorandum and the Articles.
2. A resolution to acquire the other business shall be passed at a General Meeting requesting the Board of Directors to do the needful.
3. The Board of Directors shall enter into an agreement with the firm for its acquisition.
4. A copy of the agreement shall be filed with the Registrar within 30 days.
5. Shares have to be allotted by the Board of Directors to the partners of the firm so acquired (if it is a partnership firm) according to the terms of agreement.
6. A return of such allotment has to be filed with the Registrar within 30 days to complete the registration.
For help with the conversion of your existing proprietorship firm into a private limited company or for the formation of a new private limited company, visit <link outdated-removed> ( Search On Cite | Search On Google ) and talk to one of the Business Experts.
From India, Chennai
we want our firm JMD CO-ORDINATING MANAGEMENT CORPORATE PARK convert to PVT LTD COMPANY as JMD CO-ORDINATING MANAGEMENT CORPORATE PARK(I)PVT. LTD
From India, Delhi
From India, Delhi
Dear Member.
As i do not know your business trade , but still if a proprietorship firm is willing to convert it in a Pvt.Ltd company , you have to contact CA to discuss the things,
According to your business,trade and activities you are involved in he will apply to MINISTRY OF COMMERCE AFFAIRS (MCA) ultimate goverment body of INDIA to incorporate such companies, any private ltd company comes under Companies ACT 1956.
Major part to become a Pvt.Ltd company is there must be minimum 2 directors, as in prop ship firm you are the only whole sole person to deal with business in governent records.
If you can e mail me your trade or nature of business may be i can tell more.
But to covert any firmin to Pvt.Ltd company you can consult with CA.
Regards
Manish Srivastava
From India, Lucknow
As i do not know your business trade , but still if a proprietorship firm is willing to convert it in a Pvt.Ltd company , you have to contact CA to discuss the things,
According to your business,trade and activities you are involved in he will apply to MINISTRY OF COMMERCE AFFAIRS (MCA) ultimate goverment body of INDIA to incorporate such companies, any private ltd company comes under Companies ACT 1956.
Major part to become a Pvt.Ltd company is there must be minimum 2 directors, as in prop ship firm you are the only whole sole person to deal with business in governent records.
If you can e mail me your trade or nature of business may be i can tell more.
But to covert any firmin to Pvt.Ltd company you can consult with CA.
Regards
Manish Srivastava
From India, Lucknow
Anyone can help me in preparing the document while transferring all employees from sole proprietorship to Pvt Ltd company (one entity to different entity)? Is there any specific letter format is there to follow?
Thanks in advance.
From India, Bhubaneswar
Thanks in advance.
From India, Bhubaneswar
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