Conversion services involve changing the legal structure or status of a business to meet evolving needs and regulatory requirements. Common conversions include changing a private limited company to a public limited company, a partnership to a limited liability partnership (LLP), or a sole proprietorship to a private limited company.
The process begins with a board meeting to approve the conversion plan, followed by obtaining shareholder or partner consent. Necessary documents, such as altered Memorandum of Association (MOA) and Articles of Association (AOA), are prepared. The company then files the relevant forms with the Registrar of Companies (ROC), such as Form URC-1 for entity conversions or Form INC-27 for structure changes.
Regulatory approvals may be required, and the conversion must comply with specific legal provisions. Once approved, the company must update its records, inform stakeholders, and issue new certificates of incorporation if applicable. Conversion services ensure the business remains compliant, benefits from a suitable legal structure, and continues operations smoothly.