How can a public limited company company convert to private limited company if it has over 800 shareholders and shareholders are not responding to company offer to buyback shares and there is noncommunication with shareholders?
Rajendra (CA) (27 Points)
20 September 2021How can a public limited company company convert to private limited company if it has over 800 shareholders and shareholders are not responding to company offer to buyback shares and there is noncommunication with shareholders?
Meet Paghadar
(4 Points)
Replied 20 September 2021
Rajendra
(CA)
(27 Points)
Replied 20 September 2021
Please clarify. Do you mean if a single shareholder has over 51% shares then company can be converted to private limited?
CS Divesh Goyal
(Practicing Compnay Secretary)
(42970 Points)
Replied 20 September 2021
In such case you cant convert. To convert need to reduce member below 200.
CS Divesh Goyal
(Practicing Compnay Secretary)
(42970 Points)
Replied 20 September 2021
Because with this No. of members you cant convert into Private.
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