LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Shyam Lal Naik (Service)     11 June 2008

Conversion of firm to company

In case of takeover of a firm by a company(formed for the purpose of taking over of the business of the firm), is there any requirement that the firm must be in existence for atleast one year?


 6 Replies


As per the provisions of the companies act, 1956 there is no provision like the firm should be in existance for atlease for one year. What you have to submit is latest balance sheet of the firm.

Guest (n/a)     14 June 2008

Mr. Satish Kumar, Company Secretary

Dear Sir, if you have done any transaction of converting a partnership firm in to a company under Part IX of Companies Act, I would like to talk to you over telephone for a moment. If it is alright, please provide me with your mobile telephone number.

Regards, Dr. Kishore, Hyderabad



Guest (n/a)     14 June 2008

My email id is okkishore@gmail.com

yash doshi (article)     27 June 2008

can anyone forward me the procedure of conversion of a sole proprietorship concern or a partnership firm into a private limited company?

and also the tax implications in both the cases

my e mail id is yash_2687@yahoo.co.in

Dinkar Vidyarthi (Advocate)     04 August 2008

can a firm or company made its balance sheet quaterly or half yearly in addition to the question made by Mr. Shayam Lal Naik and replied by Mr.satish Kumar


Yes, a firm or a company can made its balance sheet quarterly or half yearly. However, it is not compulsory. Listed Companies has to publish unauditer quarterly or half yearly results.

For conversion of a firm into a company, such firm has to submit audited balance sheet to the ROC. The date of balance sheet should be less than 7 days before the date filing application for conversion of firm into company to roc.


                 M.L., F.C.S

Company Secretary

mail id: skumaracs@yahoo.com





Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register