Checklist of Procedure and Documents for conversion of Company to LLP:
Checklist of P rocedure and Documents for conversion of Company to LLP: Meaning:- LLP stands for Limited Liability Partnership . It is an alternative corporate business form that offers the benefits of limited liability to the partners at low compliance costs. It also allows the partners to organize their internal structure like a traditional partnership. A limited liability partnership is a legal body, liable for the full extent of its assets . The liability of the partners, however, is limited. Hence, LLP is a hybrid between a company and a partnership. It is not the same as limited liability company LLC. Process & Documents:- 1. Obtain DPIN of all the prospective partners (Partners having DIN are not required to obtain DPIN) 2. Number of designated partners should be atleast 2. The shareholders should be designated partner of LLP 3. Meeting of Board of Directors of Company ...