Limited Liability Partnership (LLP) being most populous form of partnership in India is now getting converted to Private Limited Companies in large number for more growth and development prospect.
An Conversion of LLP to Private Limited Company in accordance with the provisions contained in section 366 of the Companies Act, 2013 & Company (Authorised to Register) Rules, 2014. Before Companies Act, 2013 the conversion from LLP to Private Limited Companies was not allowed but with the advent of the new Act, now it is possible. Initially being a start ups, mostly people prefer to incorporate the LLP’s in order to save the audit cost, secretarial compliances and other legal expenses, but later on when the company is under growth prospect, they now to get converted into Private Limited Companies.
In India if you are looking forward to convert LLP to Private Limited Company then the following process givne.
Procedure for Conversion LLP to Private Limited Company
Step 1: Apply name of the Company via Form RUN-LLP
Step 2: File Form URC-1 with with ROC along with following attachments-
Step 3: Filling of Incorporation forms
Step 4: Certificate of Incorporation is ISSUED by ROC