section 3
This query is : Resolved
17 April 2009
There is A Pvt. Ltd. which becomes on 1st April, WOS of B Ltd. And so provisions of section 3(1)(iv)(c) it becomes Public company.
SO the question is whether application to ROC for conversion of the company is mandatory?
if yes within what time?
If ROC convert the company to a LTD company on application from when the covnersion be effective for the purpose of application of other provision of Companies Act, as may otherwise be applcable to Pvt. Companies.
And should be the status of the company during the period of application is pending
SO the question is whether application to ROC for conversion of the company is mandatory?
if yes within what time?
If ROC convert the company to a LTD company on application from when the covnersion be effective for the purpose of application of other provision of Companies Act, as may otherwise be applcable to Pvt. Companies.
And should be the status of the company during the period of application is pending
18 April 2009
Jagruti
Section 3(1)(iv)(c) talks of the situations when a company becomes public company.
But when a private company becomes subsidiary of a public co there is no need of conversion.. Automatically some of the sections which are applicable to public ltd becomes applicable( like 295, 269 read with Sch XIII etc.)
There is no need to increase Authorised capital, paid up capital, no of members, no of Directors.
rgds
Vivek Hegde
Section 3(1)(iv)(c) talks of the situations when a company becomes public company.
But when a private company becomes subsidiary of a public co there is no need of conversion.. Automatically some of the sections which are applicable to public ltd becomes applicable( like 295, 269 read with Sch XIII etc.)
There is no need to increase Authorised capital, paid up capital, no of members, no of Directors.
rgds
Vivek Hegde
18 April 2009
Application to ROC for conversion of the company is not mandatory.
But you have to ensure that the number of members and directors r changed to 7 & 3.
Also paid up capital is increased to 5 Lacs.
No need for conversion.
And even if u opt for conversion than the covnersion will be effective from date of passing the special resolution of shareholders but u can use the name as "... ltd." only after getting the fresh certificate of incorporation after the change.
During the application the company will be public company [refer 3(1)(iv)(c)].
But you have to ensure that the number of members and directors r changed to 7 & 3.
Also paid up capital is increased to 5 Lacs.
No need for conversion.
And even if u opt for conversion than the covnersion will be effective from date of passing the special resolution of shareholders but u can use the name as "... ltd." only after getting the fresh certificate of incorporation after the change.
During the application the company will be public company [refer 3(1)(iv)(c)].
20 April 2009
I do not agree with the above view..
It means all private limited cos which are subsidiaries of Public Limited should increase their paid up cap to 5 lac, their members to 7 and Directrs to 3 which is not the case.
Vivek Hegde
It means all private limited cos which are subsidiaries of Public Limited should increase their paid up cap to 5 lac, their members to 7 and Directrs to 3 which is not the case.
Vivek Hegde
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- GST ON DAMAGED GOODS
- Last year TDS Claim
- REGARDING GST LIABILITY/....
- STCG FOR GOLD ETFs
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
