Conversion into public limit company
This query is : Resolved
11 November 2013
In a private Ltd company, there are 54 members. out of these members, six members are former employees of the company. now,is it necessary to convert it into a public ltd company?
11 November 2013
As per definition of private company under section 3(1)(iii) employee will not be counted in maximum limit of member. So whether such employee if Indian or foreigner it will not be counted in 50.
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