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What happens to trail if I change from individual to partnership?No. of comments:15 Deepesh Mehta, Bangalore, ARN-52719 On 27-Dec-2012

Hello, I am Deepesh mehta, proprietor of M/s.Grow Wealth(ARN-52719) from Bangalore.Can anybody from the industry answer these questions. 1) what is the procedure to change my company from proprietorship status to a partnership status or a Private limited company. 2) If the change has happened successfully what about the trail commission .Will the AMC pay the trail for the previous investments.

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Comments Posted
Kumar Debojyoti Dey ARN NO :126155 kolkata, 06 Oct 2017

i have recently registered with AMFI and got ARN under individual. due to GST i have to register under gst hent thinking to convert my MF distributorship under my existing GST registared Poroprieatory firm. How can i convert it. what is the process of conversion. CAMS and AMCs i have visited but unable to provide any solution. pls. guide

vikas batra ARN NO :6574 mohali, 30 Dec 2012

not done but mine is already partnership firm, so had thought bt goin propriter and thus know the procedure is to register a partnership firm, get the ARN number and then ask for trasfer of AUM

S.VENKATA RAMANI ARN NO :56004 madras, 30 Dec 2012

Yes. You can convert your proprietorship to a Private Ltd Company complying provisions of Companies act. If the converted company is the successor of your proprietorship, firm as defined in the act, you WILL continue to receive your trail commission from the AMCs Still the easiest and best mode of conversion is to be an LLP ( LIMITED LIABILITY PARTNERSHIP CO.) This is in vogue in India for the last 2/3 years, though UK has been following this type of biz for decades. S.VENKATA RAMANI ARN 56004 EX Marine Officer M Com FICS(uk) DIL ARN Presently advising on realty and investments based at Madras, Chennai svrmfadvisor@gmail.com 94440 18103

bullseye con (P) ltd ARN NO :86073 kolkata, 29 Dec 2012

dear sir, it is very long process,recently i have done this. to know it in details you can contact me on 9433748593 any thanks. chandra prakash pandey.

NILESH ARN NO :69951 UDAIPUR, 29 Dec 2012

PL TELL ME THE PROCESS FOR COVERSIOBN OF ARN FROM CORPORATE TO IND. & cams /AMC MUST PAY THE TRAIL COMISSION BCOZ UR ARN REMAINS SAME BUT THE ARN CARD NO DOES NOT CHANGE

P V Subrahmanyam ARN NO :ARN-0200 Kothagudem, 29 Dec 2012

Dear Deepesh Mehtaji 1) I suggest you to conver the firm in to an LLP (Limited Liability Partner Ship Firm) The Cost will be around Rs. 17 to 18 K. You can seach on net by typing LLP on google search. The Fee includes the service charges also. Any how you get it touch with them. 2) After opening of LLp you have to ask all the AMCs to Transfer your AUM on which you are getting trail to your Firms Name. Keep in touch with Karvy and CAMS and also RM and BM of AMCs. The have to do and will do. 3) They will pay becasue the service will be done by the nely formed LLP

Sunil Shah ARN NO :23412 Mumbai, 29 Dec 2012

Now bring investments thru Mauritius route which FII bring money and we need to register abroad now. We are pushed hard to shift our Mutual Fund business and do Insurance only. Banks are only Mis-Selling funds to ignorant clients by just finding out their Bank balances but refuse to bring Rural areas down under in ambit

sharad gupta ARN NO :15817 bijnor, 29 Dec 2012

dear ddepesh mehta,in my view you may not change your status from individual to partnership or pvt ltd company.better you aquire and work through multiple ARN in the ame of your family n freiends.as well as trail is concerned you can request the transfer agents and submit a declaration from both the ARNs to club the AUM on a single ARN and you will reap all the benefits .better you write to registrar n transfer agents of AMC

Prithu Mukherjee ARN NO :84499 New Delhi, 28 Dec 2012

Hello Deepesh Ji, The process for converting your company to partnership a) Prepare a partnership deed specifying the date of effect.You can choose to register your firm with Registrar of Firms. b) Intimate your bank, AMCs through CAMS / Karvy and AMFI c) You should ideally do this when your ARN is near expiry because you need to pay the registration fees to AMFI based on your company constitution. d) After the migration is done, you need to Transfer your AUM separately with each AMC to your new ARN ( which will be assigned since the prop firm would be replaced by the partnership firm or pvt ltd co.) After this process, you can receive the trail commission. CAMS would guide you in every step if you approach them. Rgds Prithu 9811715789

Sam Koshy ARN NO :5727 KOLLAM, 28 Dec 2012

Your Assets will be mapped to the new partnership. All partners must be KYD compliant. Make sure all the partners combined equity AUM IS more than 100 crores, to be worthy. Remember to confirm the regulations as SEBI is coming up with new regulations every morning ! Happy Selling !

Mehul Ved ARN NO :25647 Ahmedabad , 28 Dec 2012

Sir,,, I have taken over the proprioter company . My co. Is partner ship co. We have taken NOC FROM proprioter for transfer of assets with letter of intention to investors. If u need more info please call 9825244805 Ahmedabad

SATYA ARN NO :25909 chennai, 28 Dec 2012

Last year we checked with CAMS - AMFI Unit, they told us that Proprietorship needs to be surrendered and we have to apply for a new ARN in the partnership name. Existing assets will be mapped to Partnership Name. KYD is a must and fee will be as per AMFI regulation. This they told us last year. Its better to contact AMFI Mumbai to get current information, because we see frequent changes recently.

MAYUR KULKARNI ARN NO :53077 PUNE, 28 Dec 2012

Think of Conversion only in case you have AUM above 100 Cr or More. Otherwise it will not be good idea

Deepak Kulkarni ARN NO :23062 Nasik, 28 Dec 2012

Trail will continue. Do Not Worry. If your AUM is more than 50Cr then it will be a good idea.

Vipul ARN NO :43299 Pondicherry, 28 Dec 2012

You would be entitled to the trail if your ARN Certificate is mapped to the Firm / Company you form. But think twice as the AMFI Fee would be higher and you would have to be EUID Compliant. It would be worthwhile to convert if you have a huge AUM.

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