CONVERSION OF PRIVATE CO INTO PUBLIC CO
Querist : Anonymous
CONVERSION IS EFFECTIVE FROM THE DATE MENTIONED ON NEW CERTIFICATE OF INCORPORATION ISSUED BY ROC.
REGARDS
Querist : Anonymous
1) According to the Companies Act 1956 Sec 44 it says that although the company becomes a public limited company immediately on passing the special resolution, the change in its name becomes complete and effective only on the issue of the fresh Certificate of Incorporation.
the above point lays emphasis on the change in the name of company i.e from private to public.
Query & my View point:
The company will prepare the annual accounts with the words pvt ltd with a note that the co has filed the necessary document required for converting pvt ltd to ltd & the approval is awaited but powers i.e Sec 293 1(d) ,372 etc which a public co has may be vested or applicable to the co since according to the act it says that the company becomes a public limited company immediately on passing the special resolution.
pls resolve the above issue with the supporting of some high court or supreme court judgement or any other documents, if applicable, MATCHING THE CASE WHERE THE RESOLUTION IS PASSED IN 1ST ACCOUNTING YEAR AND THE FRESH CERTIFICATE OF INCORPORATION IS OBTAINED IN THE NEXT ACCOUNTING YEAR.
the views expressed by me may not be correct pls resole my query.
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