conversion of public limited company to private limited co.

This query is : Resolved

SONAM JAIN (Querist)
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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.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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31 July 2010 No. After conversion no of members should be limited to 50.

SONAM JAIN

SONAM JAIN (Querist)
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31 July 2010 but how can we limiting the members to 50

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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31 July 2010 By purchasing/transferring shares from members to limit the no of members to 50.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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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.

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