Conversion of company into LLP

    Posted By : Devashish Bharti / Published on : 24-Jul-2019 01:31 PM / View : 23 / Comment : 1
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    Dear members,

    If a company is converted into LLP, what about the Reserves and surplus outstanding in its balance sheet? Whether they become part of Balance Sheet of LLP after conversion or something else to be done?

    kindly advice.
    Read more on : into company conversion

    • Dear Sir,

      On conversion of the company into LLP, all the assets, liabilities and reserves and surplus of the company shall be transferred to the LLP as it is and become a part of balance sheet of LLP. But, any approval, permit or license issued to the company under any other Act shall not be transferred in the name of converted LLP, subject to the provisions of such other Act under which such approval, permit or license was issued

      25-07-2019 / 07:22:52 AM
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