Change Entity Type
Convert OPC to Private Limited
Private Limited Company is a more trusted business entity compared to One Person Company. A Private Limited Company can attract investors much easily than One Person Company. An OPC only can converted in to Private Limited Company voluntarily after 2 years of its incorporation. After modifying the Memorandum of Association (MoA) and Article of Association (AoA), the application for conversion to Private Limited Company is to be made with Central Government (Ministry of Corporate Affairs).
Read moreConvert Partnership to Private Limited Company
A Private Limited Company is a business entity with a separate legal existence which is the major benefit compared to Partnership firm. Being a separate legal entity, the liabilities of shareholders of a Private Limited Company are limited to the extent of the share capital he/she subscribed, but in the case of a normal partnership firm, the personal assets are attached and they would be personally responsible for the liabilities if any happens.
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Convert Partnership to LLP
Limited Liability Partnership is a Business Entity having separate legal existence unlike normal partnership firm. Being a separate legal entity, a Limited Liability Partnership can own assets in its own name and as well engage in business activity or agreements with an individual or any other business on its own.
Read moreConvert Proprietorship to Private Limited Company
Most of the business in starting phase preferred to register as a Proprietorship firm because of its lower compliance requirements. With the growth of the business, it is advisable to take action to limit the liabilities and reduce the burden of compliance on a single person, for the same the best option is to convert the proprietorship firm to a Private Limited Company. For converting a proprietorship firm to Private Limited Company, promoters of the company must have enter to an agreement which is to be made for selling the business.
Read moreConvert Proprietorship to LLP
Limited Liability Partnership (LLP) is an easy to maintain business structure compared to Proprietorship. The main advantage of converting from proprietorship to LLP is that the proprietor will get partners to share the responsibilities and financials hence helps the business to reach new milestones. A LLP structure of business associates the benefits of both of the Partnership and Company. Conversion from Proprietorship to LLP will be a wise decision.
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Convert Proprietorship to partnership
A proprietorship business can be converted to Partnership firm once the proprietor needed to add one or more partner to get support in terms of man power or financial support or intellectual support or all these together. The conversion from Proprietorship to a much organized Partnership firm, the business is likely to pass through procedural requirements.
Read moreChange in Master Data
Modify Authorized Share Capital
The share capital of a company is a part of capital which is raised through issue of shares. A company can raise the capital up to the limit of authorized share capital, which is prescribed in the Memorandum of Association. A company can increase the Authorized Share Capital at any time after incorporation by payment of additional fee and stamp duty.
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Change Registered Office of Company
The registered office of the company will be the address where a company is registered or incorporated and the same address will be used by all government authorities to make official communications with the company. The registered office address of the company will be displayed in the master data of the company and the changes in the registered office address must be updated with Ministry of Corporate Affairs even though office changed with in the same city.
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Change Business Activity
When a company is incorporated, the objectives of business are defined in the main object clause of MOA. The objectives prescribed in the MoA define the scope of company’s principal business activities, within which it may operate.
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Change Company Name
Name of a company can be changed at any time after its incorporation with the interest of directors and shareholders. Being a separate legal entity regulated by law, it has to follow a specific process provided by the Companies Act, 2013. Consent from members has to be obtained by conducting a board meeting and once gets consent from members, name reservation and approval from Central Government should be obtained.
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Add or Remove Director (Company)
Directors plays key roles in a company, they are the managerial personal that control and manages operations of the company. The change of director may happen either by joining of new director or resignation of existing. A company normally aims to carry out change of director to ensure optimum combination of experts on board for interest of the company.
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Add or Remove Designated Partner (LLP)
A Limited Liability Partnership is managed and operated by it partners who direct the LLP towards its goals and vision. Adding of new partners of leaving of existing partner won’t affect the status of LLP, but surely impacts the growth of the business and responsibilities of other partners. The change in partners must be approved from Ministry of Corporate Affairs to be in practice.
Read moreWinding up an Entity
Close a Private Limited Company
If the company owners or directors decide to discontinue or wind up the business, they may consider for the options of the closure. Most feasible or easiest way to close a company is striking off its name from Register of Companies. This is preferable when a company is inoperative for a certain period. Other options include a winding-up petition, however that involves more time, investment and compliance.
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Close a One Person Company
If an OPC is inoperative for more than one year from the date of incorporation then the owner may apply for closure of the company under the normal procedure or Fast Track Exit (FTE) scheme of the MCA. If not so it can be wound up voluntarily or by the order of the Tribunal. As even though it’s inoperative it is compulsorily required to file all regulatory compliances and regular returns punctually, unless it has filed the closure documents with the concerned ROC.
Read moreClose a Limited Liability Partnership
As LLP is a separate legal entity, it is created by following a legal proceeding hence when it comes to its closure there is a proper legal procedure to be followed. An LLP may be closed through winding-up or through striking off its name from Register of LLP. The winding-up may be a costly or time-consuming affair for many LLPs as it includes approval from Tribunals and involvement of Liquidators.
Read moreDissolve a Partnership Firm
Partnership firm is the business entity that is formed with a sole purpose of profit from business. Two or more parties come together with a formal agreement (known as Partnership Deed) to own and manage the business. Once the purpose is met or after the partners decide to put in end to the partnership it needs to be dissolved and the partnership comes to an end.
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