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Partnership to LLP Conversion

The special form for this purpose is used named as LLP Form 17. Form 17 purpose is the “Application and Statement for the Conversion of Partnership Firm into Limited Liability Partnership (LLP)”. Form 17 must be filed along with the incorporation application and subscribers sheet while converting a partnership firm into a LLP. The following documents are required.

1. Have the statement of consent of partners of the firm;

2. We need to have the approval from any regulatory body/ authority.

3. We need to make a list of all the secured creditors along with their consent to the conversion.

4. We need to have statement of assets and liabilities of the firm duly certified as true and correct by the Chartered Accountant(CA) in practice;

5. Need to prepare the copy of acknowledgement of latest income tax return (ITR).

6. We need to have clearance or No Objection Certificate(NOC) from Tax Authorities;

After we prepare the LLP Form 17, it must be digitally signed by a Designated Partner and a Chartered Accountant (in whole-time practice) or Cost Accountant (in whole-time practice) or Company Secretary (in whole-time practice).

Process for converting Partnership to LLP

Closing a Company through (FTE) Fast Track Exit Mode Scheme

The fastest way to shut down a company is to close a company through FTE Mode i.e. Fast Track Exit mode Scheme whenever your company and its function become non- operational over a period of time, we can close a company through a process called Fast Track Exit (FTE). Process also called as Removal of Names of Companies from Register.

Time Involve: it will take 15-20 days in getting company closed through FTE mode otherwise it will take around 6 months when we go through the route of court.

Closing a LLP through (FTE) Fast Track Exit Mode Scheme

The fastest way to shut down a Limited Liability Partnership (LLP) is to close a company through FTE Mode i.e. Fast Track Exit mode Scheme whenever your LLP and its function become non-operational over a period of time, we can close a LLP through a process called Fast Track Exit (FTE). Process also called as Removal of Names of Companies from Register.

Time Involve: it will take 15-20 days in getting LLP closed through FTE mode otherwise it will take around 6 months when we go through the route of court