PRIVATE LIMITED TO PUBLIC LIMITED

INR 29,999

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PRIVATE LIMITED COMPANY TO ONE PERSON COMPANY

INR 14,999
Per Class
  • Private Limited Company To One Person Company
  • Conversion filing
  • Conversion update

PRIVATE LIMITED TO PUBLIC LIMITED

INR 29,999
Per Class
  • Private Limited to Public limited
  • conversion Filing
  • conversion Update

PUBLIC TO PRIVATE LIMITED

INR 29,999
Per Class
  • public to private limited
  • conversion Filing
  • conversion Update

What is One Person Company (OPC)?

Section 2(62) of Companies Act defines a one-person company as a company that has only one person as to its member. Furthermore, members of a company are nothing but subscribers to its memorandum of association, or its shareholders. So, an OPC is effectively a company that has only one shareholder as its member.


What is Private Limited?

Section 2(68) of Companies Act, 2013 defines private companies. According to that, private companies are those companies whose articles of association restrict the transferability of shares and prevent the public at large from subscribing to them. This is the basic criterion that differentiates private companies from public companies.


What is Public Limited?

A public company is a corporation whose ownership is distributed amongst general public shareholders via the free trade of shares of stock on exchanges or over-the-counter markets. Although a small percentage of shares are initially floated to the public, daily trading in the market determines the value of the entire company.


Procedure for conversion of Private Limited to Public limited

Prepare notice of board meeting along with draft resolution(s) to be passed in the board meeting in accordance with the section 173(3) of the Companies Act, 2013 and clause 1 of the Secretarial Standard-1.

Convene board meeting and pass the requisite resolutions in relation to the conversion of Private Limited to Public Limited:

Prepare draft minutes of the board meeting and circulate, within in a period of fifteen days from the date of conclusion of that meeting.

File e-Form DIR-12 with the Registrar of Companies, in case new directors are appointed.

Send notice of general meeting to all stakeholders at least 21 days before the date of general meeting.

Convene general meeting and get approval of members by way of special resolution in general meeting for conversion of private limited into public limited

Prepare draft minutes of shareholders’ meeting and for finalisation, send the draft minutes to the chairman of that meeting.

Arrange list of creditors and no objection certificate from all creditors.

Arrange affidavit from directors regarding filing of Balance Sheet and Annual Return for the last 3 years.

File copy of special resolution along with explanatory statements with the Registrar of Companies within 30 days in e-Form MGT 14.

File e-Form INC 27 with the Registrar of Companies together with altered articles of association within 15 days from the date of passing of the special resolution.

After scrutiny, the Registrar of Companies, if satisfied, will issue the certificate of Incorporation pursuant to change of name from private to public company.

Arrange new Permanent Account Number card of the company with new name.


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Documents Required Conversion from private limited to Public Limited


 

An application in this regard is required to be made to Registrar. The Registrar after being satisfied that all provisions have been complied with, shall close the former registration of the company. After registering the documents relating to conversion, the Registrar shall issue a certificate of incorporation. The conversion of a company shall not affect any debt, liabilities and obligations. Such debt, liabilities, obligation and contracts may be enforced as if there is no such conversion.

Frequently Asked Questions

Memorandum of Association and Articles of Association of the Company. Rest of all the documents prepared by MyCompanywala Team and send to you for signing purposes only.

• The liability of shareholders is limited to their shares. Financial risks are a part of business but to be able to minimize them and sustain the business progress is imperative. In an LTD, if due to any reason the company were to be closed the shareholders would not risk losing their personal assets.
• Risk of takeovers is minimized when two shareholders trade shares as the selling and buying of shares is possible only when both parties have given their consent.
• Private limited companies are incorporated; hence it continues to exist even if the owner dies.
• LTD is not obliged to disclose its finances to public, unlike the Public Limited.
• It enjoys less legal restrictions as compared to a Public Limited Company. • There is a necessity to call for a general meeting of members in Public Limited, whereas there is no such compulsion in Private Limited.
• To start a business, the public company needs a certificate of commencement of business after incorporation, whereas a private company can start its business just after receiving a certificate of incorporation.

Ensure that the number of directors and members are 3 and 7 respectively and if they are less, then increase the number of directors by appointing more directors and increase the number of members either by allotment of shares or transfer of shares from existing members.

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