Ministry of Corporate Affairs (MCA) has amended Companies (Authorised to Register) Rules, 2016 by issuing Companies (Authorised to Register) Amendment Rules, 2016. As per the amended rules, a Partnership Firm has to follow the same compliance which were earlier used to be followed by Limited Liability Partnership (LLPs) at the time of their conversion into a company. Now the partners of the converting firm have to get the consent from secured creditors and a statement of assets and liabilities of the partnership firm duly certified by a practicing Chartered Accountant to be filed with Registrar of Companies (ROC). Firms are also required to file a copy of latest income tax return of the firm.