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public company
Circumstances for conversion of private limited company into public limited company
A private limited company can convert itself into a public limited company on its own volition by
complying with the following requirements :
(i) Change the company name by passing a special resolution in the manner provided in section
21. If any change in a company name. It can be occurred by passing a particular declaration.
Obtaining approval of the central government by delegation registrar of companies.
Approval of ROC is not necessary where the only difference in the name is the element thereto
or deletion therefrom of the word Private consequent on the conversion. In conformity with
the provisions of the act, of a public limited company into private limited company or a private
limited company into public limited company.
(ii) alter the articles to delete the prohibitions, restrictions and limitations contained in section
3(1).
A private limited company can convert itself into a public limited company
on its own volition by complying with the following requirements:
1.take the necessary decision in the board meeting. Define the agenda,
time, place for converting a meeting to alter the articles of association
consequently. The company name by particular resolution.
2.Issue notices for declaring the special declarations with eligible
informative statements in the general meeting.
3.Convene the meeting and pass the special declaration to the
following effect :
(iii) prohibition on any request to the public to approve for any shares
in or debentures of the company registration is to be approved.
Where a failure is made with the aforesaid restrictions, prohibition and limitation are not
having in the clauses of a private limited company. The company shall vanish to be a
private limited company. It shall not be authorized to the exemptions
and privileges consulted on private company for purposes of this act.
A petition praying for relief from consequences of failure to simply with conditions
constituting it a private limited company. It is to be form to the regional bench of
the company law board in Chennai authorities. The regulations 1991 along with an
application fee of Rs.200/-by the following documents.