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CSEET · Business Laws and Management · Elements of Law relating to Partnership and Limited Liability Partnership

Sharma & Co., a partnership firm, has been converted into an LLP and the Registrar issued the certificate of registration on 1 March. Within what time must the LLP inform the Registrar of Firms (or Registrar of Companies, as applicable) about the conversion, and with what particulars?

The LLP must inform the Registrar of Firms or Registrar of Companies with whom it was earlier registered within fifteen days of the date of registration, stating the conversion and the particulars of the LLP in the prescribed form and manner.

  1. AWithin 15 days of the date of registration, giving the particulars of the LLP in the prescribed form and mannerCorrect
  2. BWithin 30 days of the date of registration, giving only the LLP's name
  3. CWithin 60 days of the date of registration, with the consent of all creditors
  4. DWithin 15 days of the application for conversion, giving the firm's accounts

Explanation

The proviso to Section 58(1) requires the LLP to inform the concerned Registrar, with whom the firm or company was earlier registered, within fifteen days of the date of registration. The intimation covers conversion and the LLP's particulars in the prescribed form and manner. The 30-day option is wrong, and the period runs from registration, not from the application.

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