Procedure to convert private company into public company (Corporate Law)

This query is : Resolved

vishal

( Author )
16 August 2011

Dear Sir/ Madam,

Could you please help me out with the detailed procedure and its compliances with ROC for conversion of Private company into Public Company.

With Regards,

Vishal Lodaya

Saroja

( Expert )
16 August 2011

Hi Vishal,

Find below

Brief procedure for Conversion of Private to Public Company

Step 1: Increasing Authorised Capital

• Convene the board meeting to alteration of MoA & AoA for Authorised Capital of the Company, the Special or Ordinary Resolutions shall state accordingly & fix date, time and venue of General Meeting.

• Hold the General Meeting and propose the Special or Ordinary Resolutions.

• Form 5 has to be filed with RoC for Increase the Authorised share capital.

Step 2: Increase Minimum Members to Seven and Minimum Directors to Three

• Convene the board meeting and Allotment of shares to shareholder of the company and Appointment of Additional Directors.

• Form 2 & Form32 has to be filed with RoC for Appointment of Directors and Return of Allotment.

Step 3: Conversion into Public

• Convene the Board Meeting and propose the new set of MOA & AOA is to be substituted for the new name, the special resolution shall state accordingly & fix date, time and venue of General Meeting.

• Hold the General Meeting and propose the Special Resolutions.

• Form 23 has to be filed with the copy of special resolution, explanatory statement and Memorandum and Articles (Altered).

• Form 62 has to be filed with RoC for Statement in lieu of prospectus and for reducing the word “Private” in the name of the Company.

• Fresh certificate of incorporation will be issued by RoC.

• Make the changes in the name of MOA, AOA and everywhere the name appears.

• To complete entire process it will take approximately 30 days.