|Conversion of Public Company into Private Company|
Steps in Conversion of a Public Limited Company into a Private Limited Company
|2||Notice of General meeting|
|3||Filing of Special Resolution with RoC|
|4||Publish Newspaper Notice for conversion of the Company|
|5||Application to the Central Government|
On receipt of application, the Registrar of Companies (ROC) shall examine:-
If the ROC approves the application, he refers it to Technical Section and Prosecution Section for their report.
The Technical Section reports on whether the relevant e-Form23 and the last years annual report and annual return has been filed and passed/taken on record.
The Prosecution Section reports on whether any complaint is pending from anybody against the company. If during the scrutiny any adverse point arises, that has to be looked into and the authorised representative should take the initiative to make good the default or defect.
Issue of fresh Certificate of Incorporation
If the reports are satisfactory, the ROC will issue a letter granting its approval for conversion of a public company into a private company. The concerned ROC then issues fresh certificate of incorporation consequent upon change of name after conversion of the company from 'Public Company' to 'Private Company'.