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CONVERTING SOLE PROPRIETORSHIP TO PVT COMPANY

WHAT IS A PRIVATE LIMITED COMPANY?

Companies Act 2013, provides for the registration of a Private Limited Company, which cannot raise funds from the Public and cannot issue company shares to the Public. However, private company is set up with a common objective of the people/directors of the company sharing the same goals.

Private Limited Company is also the most commonly used company set up used for incorporation by the new companies as the structure of the company is such that it can very easily attract funds from the venture capitalists and private equity holders. Private Limited Company can also easily attract bank loans because of its structure.

WHAT IS THE PROCESS FOR CONVERSION OF A SOLE PROPREITRSHIP TO A PRIVATE LMITED COMPANY?

  1. OBTAINING DIN AND DSCFirst the directors have to obtain the Director Identification Number and the Digital Signatures Certificate to move to the next step of conversion.
  2. APPLYING FOR THE NAME APPROVAL FOR A PRIVATE LIMITED COMPANYName approval form has to be filed after obtaining DIN and DSC to get LLP incorporated as per the procedure of MCA.
  3. FILING FOR THE CONVERSION OF THE  SOLE PROPREITORSHIP TO PRIVATE LIMITED COMPANY
  4. DRAFTING MOA & AOA MOA & AOA basically describes the rules and regulations for conducting the business .
  5. OBTANING COMPANY PAN & TAN
  6. OBTANING SHARE CERTIFICATES AND THE  CERTIFICATE OF INCORPORATION

 

15500/-

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