Can a society convert itself into a Section 25 Company? If not what are the prohibiting sections.
Please guide, its urgent
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Conversion of society into section 25 company
Replies (3)
I think Society can't be converted in to Section 25 company. Wait for others reply.....
Experts please guide me on this ......I have asked many people but I am not getting any accurate replies..
In my view societies registered under Societies Registration Act may be converted into a Section 25 of Companies Act. Existing society applying for conversion into Section 25 company shall submit audited statement of accounts and annual report of society of past two years is required for registration, along with other formalities of registration of sec.25 company. However, many states have variances in the societies act. Let others too comment.
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