A private limited company can be converted into an LLP under the following circumstances: The Company has no security interest in its assets at the time of application. The partners of the LLP will be no one but the shareholders of the company. A Private Limited Company or Unlisted Public Company may convert into a Limited Liability Partnership in accordance with the provisions of Section 56 and the Third and Fourth Schedule of LLP Act, 2008.
A public limited company cannot be converted into an LLP but A Public Limited company Convert into Private then into LLP.
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