An existing company registered under section 8 seeking to convert itself into a company of any other kind shall make an application to the Regional Director for conversion of its status. Once the approval is given by the Regional Director, the company shall cease to enjoy all the privileges/ concessions obtained by it on account of being a Section 8 company.
Min. 10 days
1. Preparation of notice, agenda and minutes of the Board and General meetings approving the Conversion. 2. Drafting of altered MOA & AOA. 3. Preparation of Form MGT 14. 4. Preparation of Form INC 18. 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.
For Form INC 18: 1. Memorandum of association. 2. Articles of association. 3. Certified true copy of board resolution(s) authorizing conversion. 4. Certified true copy of the special resolution passed for approval for conversion into any other kind and notice convening the general meeting along with the relevant explanatory statement annexed thereto. 5. Certificate from CA/CS/CWA (in practice) certifying that the conditions laid down in the Act and rules, have been complied with. 6. Statement of assets and liabilities of the company as on the date not earlier than thirty days of that date duly certified by the auditor. 7. Copy of valuation report by a registered valuer about the market value of assets. 8. Audited financial statements, the Board’s reports, annual returns and the audit reports for each of the two financial years immediately preceding the date of the application or, where the company has functioned only for one financial year, for such year. 9. Where NOC from all the creditors is indicated as obtained in form INC 18a, the attachment containing such NOCs is mandatory to be provided.