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Proprietorship firm into a private company or public company

1.First and foremost, form a new registration company. If the new company registration is to be organized as a public limited company. Ensure that subscribers of the one to the aide-memoire of organization. The subscribers is seven in number. It is the proprietor of the partnership firm in a company.

If the new company registration is being organized as a private limited company. Ensure that one of the contributors to the aide-memoire of organization. The subscribers being not less than two in number. It is the proprietor of the proprietorship firm is to be converted into a new company.

2.Convert your proprietorship firm into a partnership firm and accept. The new company registration as one of the partners of your present proprietorship firm.

3.Serve in the objects clause of the aide-memoire of association of the new company registration. A particular clause which allows the new company to have the business.

4.The liabilities and assets of the proprietorship firm is converted into partnership firm.

5.Serve in the sections of organization of the new company registration. The power of the company directors to register into agreements. The select agreements relating to the acquisition of the business. The liabilities and assets of the proprietorship firm is converted into partnership firm.

6.Further serve in the sections of organization of the new registration company. Issue and part of shares to all the contributor shareholders of the company. They are the partners of the firm. His also the proprietor of the partnership firm registration company.

7.Which is null. But the proprietorship firm is converted into partnership firm. In behalf of the shares is charged to the company to entire partners in a company.

8.When you are converting your proprietorship firm into partnership firm. Ensure that, the partnership deed includes, a stipulation of all the shares assigns to the partners of the partnership firm.

9.The new registration company is organized the same. As one of the ways of dissolution of the partnership firm.

10.Once the new company registration is formed in Chennai. Then resolve the partnership and send all the share to the new registration company of the partners of the firm.It is already served in the sections of organization of the new registration company.

11.Convene a conference after giving perceive to all the directors of the new registration company instantly after incorporation. But the registration within 30 days as per section 173 to accept. The statements registered into by the company. The partners of the firm for helping the assumption of the business of the partnership. It is also for charge of shares of the partners in the company in role of part of shares of the said company. It may pass a board resolution in the said meeting.

12.In the above board meeting also fix for calling their general meeting to pass a special resolution. Under section 62 giving power to the board of directors to issue. Assign equity shares to all the partners of the partnership firm in full. The final satisfaction of the consideration of assign of shares of all the partners of the partnership firm to the new company registration. It is also for acquiring the business registration of the partnership firm in Chennai registered office.


13.Further, keep in mind that all the offenses specified above are compoundable. The new company registration is registered at Chennai office.  (Which is yet to be specified) (corresponding to section 621A of the 1956 act.



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