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  • Trade Mark Registration, Copyright Registration, Company Incorporation, Company Registration, Logo Registration, Trade Mark Search, Trade Mark Opposition, Divorce Lawyer Delhi Shipping Disputes, Debt Recovery, Import Export, Insurance Claim, Business Contract, Lease Agreement, Arbitration, Consumer Lawyer, Deficiency in Service, Cheque Bounce, Custom Duty, G.S.T, GST Show Cause Notice, Design Registration, Patent Registration

    Partnership to LLP

    Partnership to LLP

    After introduction of LLP Act in 2008, many Partnership Firms have started to convert their Partnership Firm to LLP. The reasons of conversion are self-evident such as ability to take unlimited number of partners, separate legal entity, limited liability and ease of ownership transfer. Because of these advantages of LLP over Partnership, LLP has become very popular amongst small and medium sized businesses.
    The Partnership Firm which wants to convert itself to LLP must be registered under Indian Partnership Act, 1932. Unregistered Partnership Firm can’t be converted to LLP. LLP incorporated by conversion of Partnership Firm to LLP must have same partners as they were in the Partnership Firm. Therefore it is suggested that the Partnership Firm should retire all the Partners who do not wish to be a part of LLP and if new partners are to be added, they should be added after the incorporation of LLP.