Conversion of partnership firm into subsidiary of pvt ltd co
Shivani Kapur
(Querist) 08 September 2017
This query is : Resolved
Dear Friends
Please guide me
I want to know if a partnership firm can be converted into a subsidiary of a Indian private limited company.
What is the procedure please guide me.
Plz help i will be very thankful to u.
Shivani
Hemant Agarwal
(Expert) 09 September 2017
1. A Registered "LLP" can be a subsidiary of a Registered Pvt. Ltd. Co., subject to various documentary procedures and various parameters.
2. Meet a local Corporate Lawyer, with all the relevant documents, for a one-to-one consultation session and logical solution.
Keep Smiling .... Hemant Agarwal
VISIT: http://www.maharashtra-society-help-forum.com
Rajendra K Goyal
(Expert) 09 September 2017
Please discuss with local consultant.
How are you concerned / related with the query?
Shivani Kapur
(Querist) 09 September 2017
Thank u so much Hemant ji
I shall follow your advice on the LLP and smiling part.
J K Agrawal
(Expert) 10 September 2017
In the alternative you can enter into a joint venture or a partnership between the company and existing firm. It is better way in so many respect. If you make the firm to be a subsidiary, you are responsible to maintain accounts of both concern and to show the both concern account in annual reports etc of principal company which has a lot of documentation and formalities. Further, first you have to convert partnership into LLP or a Company.
Shivani Kapur
(Querist) 10 September 2017
Dear Agarwal ji
Thank u so much.
For a JV does the partnership need to be registered. Also a partnership between a partnership and a company is it possible.
Plz let me know.
Once again thank u
J K Agrawal
(Expert) 11 September 2017
Partnership is only between living persons so a partnership between partnership and company called JV.
Registration of partnership is almost MUST. otherwise the consequences are very dark.
