Conversion of public limited company to private limited

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Querist : Anonymous

Querist : Anonymous (Querist)

29 February 2012 Dear sir,

I am in the work of conversion of public limited company into private limited company. I know the procedure for that.

Now my question is, In public limited company there are 7 share holders and subscribers in AOA & MOA. But now only two subscribers in the private limited. So far, I didnt filed form 23. What are the procedure for that.

Thanks in advance

Ajay Mishra

Ajay Mishra (Expert)

01 March 2012 Hi

Conversion of Public Company into Private

Document Required:

1. Application in Form-1B
2. CTC of EGM notice for Conversion/name change/amendment in the article.
3. Certified true copy of resolution passed
4. CTC Minutes of the EGM
5. CTC of Balance sheet/Directors report last three years
6. Form-23
7. Resolution of appointment of Auditor
8. Acceptance of appointment of Auditor
9. Amended MOA & AOA- duly certified
10. Original Certificate of Incorporation
11. List of Director
12. List of Shareholder
13. Notice of Conversion Published in newspaper English & Local Language
14. Notice to all the Creditors having secured/unsecured liability of Rs 1 Lacs and consent from them
15. Power of Attorney executed by all the Directors in favour of the Representator
16. Fee of Rs 1000/-

I think there is no need to reduce number of members. However, the members can not exceed 50 as per definition of private company.

Querist : Anonymous

Querist : Anonymous (Querist)

05 March 2012 Dear Ajay sir,

Thanks for your reply. But my query is, they plans to reduce the share holders. For that purpose, whether changes in subscriber clause of MOA,AOA is only enough, or we have to do something.

Querist : Anonymous

Querist : Anonymous (Querist)

05 March 2012 Dear Ajay sir,

Thanks for your reply. But my query is they plans to reduce the share holders. For that purpose, whether changes in subscriber clause of MOA AOA is only enough, or we have to do something.

Ajay Mishra

Ajay Mishra (Expert)

05 March 2012 Hi

I think, in MOA there will be no changes in subscriber clause.

Regards

Querist : Anonymous

Querist : Anonymous (Querist)

06 March 2012 then how to reduce the Members from 7 to 2. because other five share holders are not there now.

Querist : Anonymous

Querist : Anonymous (Querist)

09 March 2012 Ajay sir,

Waiting for your reply. Please