Transfer of shares

NIRAJ GOEL (PROP.) (107 Points)

21 April 2012  

Dear Friends

One private limited company in India going to approve transfer of 60% its paid up capital to some foreign company.

As per section 4(7) of the Companies Act, it will become a deemed public company.

What formalities do we need to follow like increase in members to 7, directors to 3, remove word private OR these are not required.

thanks