PLC Transfer To PVT LTD.

Procedure for Conversion from Public (unlisted) to Private :

1. Obtaining written consent for the conversion from all the shareholders;

2. Board deciding to go ahead with the conversion;

3. Sending application to the Registrar together with a copy each of the Annual Reports of the three preceding years, a certified copy of the Board’s resolution and the prescribed fee, in Form No.1B pursuant to Rule 4B of the Companies (Central Government’s) General Rules & Forms, 1956;

4. Obtaining consent of substantial creditors, if insisted upon by the Registrar;

5. On receipt of Registrar’s approval, convening a general meeting to pass the special resolution in terms of section 31(1) Proviso;

6. After the general meeting, filing the special resolution with the Registrar;

7. Applying to, and issue of the certificate of incorporation afresh with the word ‘private’ inserted in the company’s name by the Registrar;

8. Filing a printed copy of the Articles of Association as altered with the Registrar, as required by section 31(2A); and,

9. Complying with the other requirements to bring in the new name of the company on name boards, letter-heads, other forms, adoption of a new common seal etc.