Step by step guide to help you convert Partnership firm into PLC:
- Conduct a meeting between the partners for the Conversion of Partnership Firm Into Private Limited Company
– To take assent of majority of its partners, not less than three-fourth of the partners should be present in person.
– To authorize two or more partners to take all steps necessary and to execute all papers, deeds, documents etc.
- Apply for DSC and DIN for all directors and shareholders of the company.
Obtain DSC of all directors and shareholders. In addition to that obtain written consent or No Objection Certificate from the secured creditors of the firm, if any.
- Obtain name Approval in RUN
File an application in RUN on the MCA website to obtain the name for the proposed company after conversion. Along with various attachments. Further also stating the proposal for conversion of the partnership firm.
- File Form URC-1 along with the necessary attachments with ROC
File Form URC-1 within 30 days of name approval.
- Publish an advertisement in Two Newspaper
– As per section 374(b) of Companies Act, 2013 firm seeking registration under the provision of Part I of Chapter XXI shall publish an advertisement about registration.
– Seeking objections, if any within 21 clear days from the date of publication of the notice.
– The said advertisement shall be in Form No. URC-2.
– Further, these shall be published in 2 newspapers one in English and other in the principal vernacular language of the district.
- Draft MOA and AOA
Therefore, after obtaining name approval, and approval of E-FORM URC-1 from the Registrar, the applicant is required to draft the Memorandum and Articles of Association and other relevant documents necessary for incorporation.
- File necessary forms with ROC
File INC-32, INC-33, INC-34 and AGILE along with the earlier mentioned forms on MCA Website.
- Once the Registrar in satisfied on the basis of documents and information filed by the applicants,
He shall issue a certificate of incorporation in Form No. INC.11.
- Intimate ROC under which it was previously registered.
Along with documents for its dissolution as a firm.