Statutory General Meeting

This query is : Resolved

Chirag Chordia (Querist)
Follow

03 October 2009 can anybody plz tell me that if a private co. converts it self into public co. (ltd. by shares), does it require to hold Statutiry General Meeting?

Ankur Garg

Ankur Garg (Expert)
Follow

03 October 2009 Hi,

If such private company converts itself in to public company with in 6 months of incorporation as a private company then section 165 is applicable to your case and you have to convene statutory meeting.

In other words if your private company convert itself in to public company after 1 year of incorporation then section 165 is not applicable.

Regards

Manish Soni

Manish Soni (Expert)
Follow

03 October 2009 No a private ltd. company which is converted into a public ltd. company is not required to hold statutory meeting.

Following cos. shall convene and hold statutory meeting:

1. public co. ltd by shares
2. public co. limited by guarantee and having share capital

Therefore a private ltd. company which is converted into a public ltd. company is not required to hold statutory meeting

Ankur Garg

Ankur Garg (Expert)
Follow

03 October 2009 Time factor is also imp.

Accordingly if your private company converts itself in to public company within 2 month of incorporation then section 165 is applicable and you have to convene statutory GM.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now