Conversion of Private Company into Public Company

Conversion of Private Company into Public Company

1.  By Default -: (SECTION – 43)

If Private Co. NOT fulfill the 4 Provisions of Section-3(1)(iii) to be incorporated in Articles

2.  By Choice -: (SECTION – 44)

i)                  Alteration in the Name of Co. by Special Resolution -: Delete the word ‘Private’. E.g; XYZ Private Ltd. Co. .

ii)               Increase the Number of Members -: Atleast to 7.

iii)            Increase the Number of Directors -: Atleast to 3.

iv)            Filling of Prospectus OR Statement in Lieu of Prospectus -:Within 30 days of its becoming Public Company.

v)               Alteration of its Articles by Special Resolution -: Taki Koi Provision baakinarehjae Private Co. ki .

vi)            Enhancement of Paid-up Capital -: Atleast to 5 lakh.

Conversion of Public Company into Private Company

1.   Passing a SPECIAL RESOLUTION -: The Articleshave to be Altered by passing SPECIAL RESOLUTION to match the requirements of a Private Co. U/S 3(1)(iii).

a)   E-form 23 for SPECIAL RASOLUTION within 30 days of its passing to be filed with ROC.

b)   E-form 1B for conversion within 3 month of passing SPECIAL RESOLUTION to be filed with ROC.

2.   Approval of the CG -: Must obtain.

3.   Approval to be filed with the Registrar -: A copy of the Approval along with a Printed Copy of the Altered Articles are to be filed with the ROC within 1 Month of the Receipt of the CG Approval.

4.   Change in the Name of Company -: Include the word ‘Private Limited’ at the end of its NAME. E.g; XYZ Pivate Ltd Co. .