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of <h1>Conversion to LLP: Section 58 Details Process, Asset Transfer, and Dissolution of Original Entity in 15 Days</h1> Section 58 of the Limited Liability Partnership Act, 2008, outlines the process and effects of converting a firm, private company, or unlisted public company into a limited liability partnership (LLP). Upon compliance with relevant schedules and provisions, the Registrar issues a certificate of registration. Within fifteen days, the LLP must notify the original Registrar of its conversion. The conversion binds partners and shareholders to the applicable schedule's provisions. All assets, rights, and obligations transfer to the LLP, and the original entity is dissolved and removed from official records. The LLP is recognized from the registration date specified in the certificate.
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