Public company is one of the popular and well known forms of business structure. Besides Company various other business form is prevalent in India like proprietorship, HUF, Firm, LLP etc. Although when considered from the prospective of legal entity and perpetual succession as a feature of form of business after Company, formation of LLP is considered to be apt. In the current scenario, some businessman already running their business through companies thinks it fit to convert its Company into LLP due to below given reasons: Regulatory authorities are gradually becoming stricter by introducing new corporate governance practice for Companies as compared to private company due to increased stakeholder interest; Increasing penalties and imprisonment for non-compliance of provisions; To retain control over business by few people; Easy management; Reduction of extra compliance as applicable on Companies; Legal Compliance Cost Saving.