Conversion of a public company to private company would become effective from the date of receipt of the approval of the Registrar though the change of name would become effective on the issue of fresh Certificate of Incorporation. The Companies Act, 2013 has simplified the provisions but has brought a lot of restrictions on doing business. Therefore many public companies are converting themselves into private limited companies.
1. Preparation of notice, agenda and minutes of the Board and General meetings approving the Conversion of Company from Public to Private. 2. Drafting of altered MOA & AOA. 3. Preparation of Form MGT 14. 4. Preparation of Form INC 27. 5. Drafting of Public notice, if required intimating the members, others concerned about the conversion of company. 6. Drafting of letter intimating the conversion to Tax authorities, PF dept, other regulatory authorities, suppliers, customers, banks etc. 7. Arrangement for the new Common Seal. 8. Advise on other post conversion compliances.
1. For Form MGT 14: a. Certified true copy of the resolution passed by members. b. Altered copy of the MOA & AOA. 2. Form INC 27: a. It is mandatory to attach minutes of the member’s meeting where approval was given for conversion and alteration of the articles of association. b. Copy of Special Resolution. c. Copy of Altered Articles of Association. d. Copy of Altered Memorandum of Association in case of conversion of Unlimited Liability Company to Limited Liability Company. e. It is mandatory to attach order of competent authority in case of conversion from public company to private company (This requirement is not yet notified yet).