Take over of prop.firm into partnership firm
Ashok kumar Sharma
(Querist) 06 July 2013
This query is : Resolved
I HAVE A CLIENT WHO IS RUNNING BUSINESS IN PROPRIETORSHIP FIRM.HIS FIRM IS REGD.IN UPVAT.HIS REGISTRATION IS 11 YEAR OLD.NOW HE WANT TO CONVERT HIS FIRM IN PARTNER SHIP FIRM WITH HIS CLOSED FRIEND.HE DONT WANT A FRESH REGISTRATION,BECAUSE HE ESTABLISHED HIMSELF WITH VERY HARD WORK AND MAKE A GOODWILL IN THE MARKET.HE DONT WANT TO CHANGE HIS NAME & STYLE AND MFG.ACTIVITIES OF BUSINESS.HE WANT TO CHANGE ONLY CONSTITUTION OF FIRM.PLS.GUIDE ON URGENT BASIS WITH DETAIL.
THANKS & REGARDS
A.K.SHARMA
Raj Kumar Makkad
(Expert) 06 July 2013
It is not possible. The change in one part is not possible. Not only the registration is required to be changed but the status of the firm shall be required to be changed from proprietorship to partnership.
ajay sethi
(Expert) 06 July 2013
registration would change as proprietory concern gets trnasferred into partnership firm
