Preface to Fourteenth Edition I-5
Preface to First Edition I-7
Syllabus I-9
Chapter-Heads I-13
Leading Cases I-29
UNIT 1
GENERAL PRINCIPLES OF THE INDIAN CONTRACT ACT, 1872
CHAPTER 1 INTRODUCTION
CHAPTER 2
NATURE AND KINDS OF CONTRACTS
CHAPTER 3
CHAPTER 4 CONSIDERATION
CHAPTER 5 CAPACITY OF PARTIES
CHAPTER 6 FREE CONSENT
CHAPTER 7
CHAPTER 8
AGREEMENTS EXPRESSLY DECLARED VOID
CHAPTER 9
CONTINGENT CONTRACTS
CHAPTER 10
QUASI CONTRACTS OR CERTAIN RELATIONS RESEMBLING THOSE CREATED BY CONTRACT
UNIT 2
DISCHARGE OF CONTRACT AND REMEDIES FOR BREACH
CHAPTER 11
DISCHARGE OF CONTRACT
CHAPTER 12
REMEDIES FOR BREACH OF CONTRACT
INTRODUCTION TO SPECIAL CONTRACTS
CHAPTER
13
OF INDEMNITY AND GUARANTEE
CHAPTER 14
BAILMENT AND PLEDGE
CHAPTER 15 AGENCY
CHAPTER 16 CONTRACT OF SALE OF GOODS
CHAPTER 17 CONDITIONS AND WARRANTIES
CHAPTER 18 TRANSFER OF PROPERTY
CHAPTER 19
PERFORMANCE OF CONTRACT OF SALE
CHAPTER 20 REMEDIES
CHAPTER 21 AUCTION SALE
UNIT 5
LIMITED LIABILITY PARTNERSHIP ACT, 2008
CHAPTER 22
CHAPTER 23 INCORPORATION OF LIMITED LIABILITY PARTNERSHIP
CHAPTER 24 PARTNERS AND THEIR RELATIONS
CHAPTER 25 FINANCIAL DISCLOSURES
CHAPTER
26 CONVERSION TO LLP
26 Conversion to LLP
Meaning of Unlisted Public Company Legal Provisions for Conversion to LLP
26.1 Legal provisions regarding Conversion to LLP
Notes :
1. Unlisted Public Company.
26.1.1 Provisions of the Act
Conversion from Firm to Limited Liability Partnership
provisions of section 55 Second Schedule
from Private Company to LLP
to LLP
provisions of conversion of provisions of section 56 Third Schedule provisions of conversion of provisions of section 57 Fourth Schedule provisions of conversion of
26.1.2 Eligibility for Conversion
26.1.3 Documents to be Filed for Conversion
Conversion to LLP
1. A statement by all of its partners in Form 17 along with requisite fee containing the following particulars: (i) (ii)
1. A statement by all of its members in Form 18 along with requisite fee containing the following particulars. (i) (ii)
1. A statement by all of its members in Form 18 along with requisite fee containing the following particulars: (i)
(ii)
Following documents have
The statement is to be signed by a designated partner who shall state that
The Statement is to be signed by a designated partner who shall state that of conversion of the
consent
The Statement is to be signed by a designated partner who shall state that respect of conversion of for conversion of the for conversion of the
Business Laws (i) (ii) (iii)
the provisions of the (i) (ii) (iii)
the provisions of the
2. Incorporation document and statement referred to in Section 11.
2. Incorporation document and statement referred to in Section 11.
2. Incorporation document and statement referred to in Section 11.
26.1.4 Certi cation by Registrar
Conversion from Firm to Limited Liability Partnership
Conversion from Private Company to LLP
Conversion from Unlisted Public Company to LLP (a) Registration. (a) Registration. (a) Registration.
Conversion to LLP
(b) Refusal to Register : (b) Refusal to Register : (b) Refusal to Register :
26.1.5 E ects of Registration
Conversion from Firm to Limited Liability Partnership
Conversion from Private Company to LLP
Conversion from Unlisted Public Company to LLP
(1) Existence of LLP.
(2) Transfer of assets and liabilities: (1) Existence of LLP. There
(2) Transfer of assets and liabilities. (1) Existence of LLP. There
(2) Transfer of assets and liabilities.
(3) Dissolution of company. (3) Dissolution of company. The
Business Laws
(4) Registration in relation to property. (4) Registration in relation to property. (4) Registration in relation to property.
(5) Pending proceedings. (5) Pending proceedings. (5) Pending proceedings.
(6) Continuance of conviction, ruling, order or judgement. (6) Continuance of conviction, ruling, order or judgement. (6) Continuance of conviction, ruling, order or judgement.
(7) Existing agreements. (7) Existing agreements. (7) Existing agreements.
(8) Existing contracts. (8) Existing contracts. (8) Existing contracts.
to LLP
(9) Continuance of employment. (9) Continuance of employment. (9) Continuance of employment.
(10) Existing appointment, authority or power.
(10) Existing appointment, authority or power. (10) Existing appointment, authority or power.
(11) Approval, permit or license. (11) Approval, permit or license. (11) Approval, permit or license.
Laws
(12) Partner liable for liabilities and before conversion.
to the preconversion
26.1.6 Notice of conversion in correspondence
Conversion from Firm to Limited Liability Partnership
Conversion from Private Company to LLP
Conversion from Unlisted Public Company to LLP correspondence of the LLP correspondence of the LLP correspondence of the LLP
26.1.7 Penalty
Conversion from Firm to Limited Liability Partnership
If any LLP contravenes with above provision of notice of conversion it shall be punishable with
less than ` 10,000 but which may extend to ` 1,00,000 and
shall not be less than ` 50 but which may extend to R 500 for every day after the default continues.
Conversion from Private Company to LLP
Any LLP which contravenes the above provision of notice of conversion shall be punishable with less than ` 10,000 but which may extend to ` 1,00,000 and
shall not be less than ` 50 but which may extend to ` 500 for every day after the default continues.
Review Questions
Conversion from Unlisted Public Company to LLP
Any LLP which contravenes the above provision of notice of conversion of shall be punishable with less than ` 10,000 but which may extend to ` 1,00,000 and
shall not be less than ` 50 but which may extend to ` 500 for every day after the default continues
[B.Com. (H), Delhi 2011, 2012, 2013, 2015]
2. State the provisions for conversion of a private company into LLP.
[B.Com. Delhi, 2017; B.Com. (H), 2013, 2016]
3. Discuss the steps to be undertaken for conversion of unlisted public company into LLP.
4. Can a Registrar refuse the conversion to an LLP ? If so what is the remedy available to the aggrieved party?
converting entity on conversion to an LLP? then the entity can never be converted to LLP. Do you agree?
(b) a private company into LLP
(c) an unlisted public company into LLP.
8. Is there any legal requirement for the entity who has converted into LLP regarding intimation to the concerned parties?
the LLP Act, 2008.
[B.Com. (H), Delhi, 2023]
BUSINESS LAWS
AUTHOR : BHUSHAN KUMAR GOYAL , KINNERI JAIN
PUBLISHER : TAXMANN
DATE OF PUBLICATION : JULY 2024
EDITION : 14TH EDITION
ISBN NO : 9789364555616
NO. OF PAGES : 560
BINDING TYPE : PAPERBACK
DESCRIPTION
This comprehensive textbook offers a deep understanding of business-related legal principles with clear explanations, practical examples, detailed case studies, and extensive chapter-end resources. Authored by experienced educators, it meets the highest academic and professional standards.
Designed for B.Com. (Hons.)/B.Com. Core Papers BCH: DSC 1.2 & BC: DSC 1.2, and based on the UGCF for the University of Delhi, NCWEB, and SOL, it is also valuable for BBA, MBA, CA-Intermediate, and other professional courses.
The Present Publication is the 14th Edition, authored by Bhushan Kumar Goyal and Dr Kinneri Jain, with the following noteworthy features:
• [Comprehensive Coverage] Essential legal rules and principles with detailed illustrations from Indian and English jurisprudence
• [In-Depth Court Case Explanations] Detailed analysis of legal precedents to enhance understanding
• [Extensive Chapter-End Resources] Theoretical, true/false, and multiple-choice questions, plus practical problems
• [Leading Cases Summarized] Quick reference summaries at the beginning of each chapter
• [Latest Legal Provisions] Includes updates from the Insolvency and Bankruptcy Code, 2016
• [User-Friendly Layout] Distinctions and comparisons in tabular form
• [Experienced Authorship] Reflects deep subject knowledge and pedagogical soundness
