What are the points to be kept in my mind while altering the articles of association of a private company to convert it into public company?
ifla almaas (student) (84 Points)
08 November 2012What are the points to be kept in my mind while altering the articles of association of a private company to convert it into public company?
CA Bhargav Nathwani
(CA in Practice)
(8307 Points)
Replied 09 November 2012
Pass SR deleting the Restriction set out u/s 3(1)(iii)
Pass SR for deleting the word 'Private" fro mthe name of company.
Approval of CG is not requied for such change.
File: Prospectus OR SILP; and
SR
The compant shall complt with all the provision relating to the Public company.
+++++++ No. of MEMBER to 7
+++++++ No. of director to 3
+++++++ Paid up capital to 5 lacs..
The registrar shall issue fresh certificate if incorporation containing the changed name of compant i.e. existing name with the word "private" deleted
ifla almaas
(student)
(84 Points)
Replied 09 November 2012
If the private company was a joint venture between two other entities in that case can an article be incorporated stating that no shares shall be transferred without prior consent of the promoters.
CAclubindia
