conversion of public limited company to private limited co.
This query is : Resolved
31 July 2010
If public limited company having more than 50 shareholders is converted into private limited company. What will be the remedy for limiting the no. of shareholders as 50 after converting. whether after conversion members may be more than 50 with the approval of CLB etc.
31 July 2010
No. After conversion no of members should be limited to 50.
31 July 2010
but how can we limiting the members to 50
31 July 2010
By purchasing/transferring shares from members to limit the no of members to 50.
31 July 2010
see the full process of conversion here
https://www.caclubindia.com/articles/conversion-of-a-public-company-into-a-private-company-5710.asp
First u need to bring down the no. of shareholder below 50 before starting the process.
https://www.caclubindia.com/articles/conversion-of-a-public-company-into-a-private-company-5710.asp
First u need to bring down the no. of shareholder below 50 before starting the process.
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