By converting a private company into a public company, one will be able to enjoy the benefits which a public company has to offer such as accepting deposits form public, free transferability of shares etc.
Procedure for Conversion
A public limited company should appoint minimum 3 directors, it can have a maximum of 15 directors.
Minimum capital of Rs.5 lakhs is required to incorporate a public limited company.
E-form MGT14 is the form through which copy of special resolution passed by shareholders approving conversion of the company is filed with the registrar.
E-form MGT14 has to be filed within 30 days of passing special resolution in the EGM.
Documents that should be submitted to the registrar along with e-form MGT14 are listed below:
E-form INC27 is used to apply for conversion of private company into public company with the registrar.
Documents that should be submitted to the registrar along with e-form INC27 are listed below:
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