Public Deposit

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Querist : Anonymous

Querist : Anonymous (Querist)

12 July 2011 Step by Step Procedure for converting pvt.Ltd. co. in to Pub. Ltd. co. and then accepting Public Deposit. What will be the initial cost for it and what will be the minimum expected time requirement for this.

Saroja

Saroja (Expert)
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12 July 2011 Conversion of Private to Public Company

As per section 44(1) of the companies Act 1956,

Brief procedure for Conversion of Private to Public Company

Step 1: Increasing Authorised Capital

• Convene the board meeting to alteration of MoA & AoA for Authorised Capital of the Company, the Special or Ordinary Resolutions shall state accordingly & fix date, time and venue of General Meeting.

• Hold the General Meeting and propose the Special or Ordinary Resolutions.

• Form 5 has to be filed with RoC for Increase the Authorised share capital.

Step 2: Increase Minimum Members to Seven and Minimum Directors to Three

• Convene the board meeting and Allotment of shares to shareholder of the company and Appointment of Additional Directors.

• Form 2 & Form32 has to be filed with RoC for Appointment of Directors and Return of Allotment.

Step 3: Conversion into Public

• Convene the Board Meeting and propose the new set of MOA & AOA is to be substituted for the new name, the special resolution shall state accordingly & fix date, time and venue of General Meeting.

• Hold the General Meeting and propose the Special Resolutions.

• Form 23 has to be filed with the copy of special resolution, explanatory statement and Memorandum and Articles (Altered).

• Form 62 has to be filed with RoC for Statement in lieu of prospectus and for reducing the word “Private” in the name of the Company.

• Fresh certificate of incorporation will be issued by RoC.

• Make the changes in the name of MOA, AOA and everywhere the name appears.

• To complete entire process it will take approximately 30 days.

Querist : Anonymous

Querist : Anonymous (Querist)

13 July 2011 thanx for reply

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