Converting a LLP into Private Limited Company

One of the most awaited moves for LLP Businesses. Since the time LLP was introduced, many businesses went to incorporate as LLP (for the initial hype) without being aware of its limitations and advantages in true sense. These business have been looking to convert to a Private Limited Company as LLP does not support many agendas like raising professional investments, differential class of stocks, ESOPs etc. Although conversion from LLP into Private Limited was always allowed as per law, the exact process/ documents for the conversion has been specified recently.

In this episode of eLagaan Whiteboard Friday, the eLagaan team talks about how to go about converting a LLP into a Private Limited Company. It also looks at various tax and compliances that needs to be complied with, various restrictions the law imposes post conversion and possible areas which needs to be thoroughly examined before taking a call to convert.

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