Conversion of pub to pvt

Dear Friends

Whether (1) Newspaper advertisement and (2) NOC from creditors required for conversion of a Pub Co into Pvt Co ?

If yes, can you please provide the section / source reference for me to see it in details?? In some article, I found requirement of NOC from creditors with outstanding more than Rs 1 lakh whereas some are saying for NOC from all MAJORITY creditors (dont know what is majority? Whether it is Top 50 or so).

Thanks

Santosh