Is it possible conversion of Trust to Private company
This query is : Resolved
21 October 2019
Is it possible conversion of Trust to Private company, if yes what are the procedures
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28 October 2019
Yes. A trust can be converted into Private company. You have to follow the procedure under Chapter XXI of Companies Act, 2013 which contains Section 366 to Section 374 read with Companies(Authorised to Register) Rules, 2014.
In brief, the procedure is you have to give newspaper advertisement in Form URC-2 to invite objections, if any from the stakeholders, then within 30 days you have to file Form URC-1 for taking permission for conversion of Trust into Private Company alongwith requisite attachement as per Section 366 read with Rules. Spice form for incorproation of company shall also be filed simultaneously linking the form with Form URC-1.
The details procedure you may read under Section 366 to 374 read with Companies (Authorised to Register) Rules, 2014.
In brief, the procedure is you have to give newspaper advertisement in Form URC-2 to invite objections, if any from the stakeholders, then within 30 days you have to file Form URC-1 for taking permission for conversion of Trust into Private Company alongwith requisite attachement as per Section 366 read with Rules. Spice form for incorproation of company shall also be filed simultaneously linking the form with Form URC-1.
The details procedure you may read under Section 366 to 374 read with Companies (Authorised to Register) Rules, 2014.
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