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Sgm

Amit Kumar Verma (CA Final CS Professional) (501 Points)

10 February 2012

Hi friends..

I want to know when a company is converted from private limited to public limited company, whether it is required to hold SGM??

Thanks..

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4 Replies

jeets (CS ) (461 Points)
Replied 10 February 2012

Please read the below discussion. it would be of great help.

/experts/statutory-general-meeting-256100.asp

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 10 February 2012

Hi,

If such private company converts itself in to public company with in 6 months of incorporation as a private company then section 165 is applicable to your case and you have to convene statutory meeting.

In other words if your private company convert itself in to public company after 1 year of incorporation then section 165 is not applicable.

Regards

(Guest)

Originally posted by : Ankur Garg
	If such private company converts itself in to public company with in 6 months of incorporation as a private company then section 165 is applicable to your case and you have to convene statutory meeting.

I dont agree.

Obligation of certain types of companies to hold statutory meeting

The following types of companies are required to convene and hold a statutory meeting in accordance
with the provisions of section 165 of the Companies Act, 1956:—

(a) A public company limited by shares;
(b) A public company limited by guarantee and having a share capital;

Therefore, a private company and a private limited company, converted into public limited company is not required to hold statutory meeting.