In the event, Registrar has refused the registration, the applicant private limited company, may apply to the Tribunal within sixty days from the date of receipt of such intimation of refusal. On and from the date of registration of conversion of the erstwhile private limited company into LLP as specified in the certificate of incorporation
· A LLP under the LLP Act, 2008 by the name specified in the said certificate comes into being.
· All tangible as well intangible property vested in the private limited company, all assets, interests, rights, privileges, liabilities, obligations relating to the private limited company and the whole of the undertaking of the private limited company shall be transferred to and shall vest in the LLP without further assurance, act or deed.
· The private limited company and removed form the records of the Registrar of Companies.
All proceedings by or against the company which are pending before any Court, Tribunal or other authority on the date of registration may be continued, completed and enforced by or against the limited liability partnership.
Any conviction, ruling, order or judgment of any Court, Tribunal or other authority in favour of or against the company may be enforced by or against the limited liability partnership.
Every agreement to which the company was a party immediately before the date of registration, whether or not of such nature that the rights and liabilities thereunder could be assigned, shall have effect as from that date as if—
(a) the limited liability partnership were a party to such an agreement instead of the company; and
(b) for any reference to the company, there were substituted in respect of anything to be done on or after the date of registration a reference to the limited liability partnership.
All deeds, contracts, schemes, bonds, agreements, applications, instruments and arrangements subsisting immediately before the date of registration relating to the company or to which the company is a party shall continue in force on and after that date as if they relate to the limited liability partnership and shall be enforceable by or against the limited liability partnership as if the limited liability partnership were named therein or were a party thereto instead of the company.
Every contract of employment to which paragraph 10 or paragraph 11 applies shall continue in force on or after the date of registration as if the limited liability partnership were the employer thereunder instead of the company.