How can a loss making public limited company be converted to private limited if shareholders are over 500 and are not responding to company's offer/newspaper ad to buyback shares ?
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Convert from public limited to private limited
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To convert a public company with >500 shareholders to a private one, you must first reduce the member count to 200 or less (e.g., via buyback or share transfers). Following this, you must pass a special resolution, advertise the conversion in local newspapers, serve notice to all creditors/stakeholders, and obtain official approval from the Regional Director before filing the final order with the ROC.
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