Conversion of proprietorship into Pvt. Ltd. CO.

Shilpi K.K.Bansal (Querist) 15 September 2009 This query is : Resolved
Can we convert Proprietorship business into Pvt. ltd. Co. and the procedure for the above is same as formation of Pvt. Ltd. Co. and if we have more den one firm doing different business can be club or taken over by the same co.riven

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Manish Singh (Expert) 15 September 2009
yes it can be taken over by the same co. make the properietor a member in taht company. then enter into an agreement to take over the assets of properietorship with debts and liabilties.
also make a provsion in the Moa that it shall rectify the said agreements/ arrangements.riven

Raj Kumar Makkad (Expert) 15 September 2009
Sole proprietorship firm do not require dissolution because it is the mercy of a single person. You have to constitute Pvt. Limited Company as per procedure laid down in Companies Act, 1956 and it is your sweet will whom to include in it as shareholder or office bearer/management etc.riven

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