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Conversion of private company into public company is a very cumbersome process as it not only involves alterations in MOA and AOA and dealing with all creditors of the company but also liasoning with various government authorities. If the existing private company is having less number of member and directors as required in public company, then it has to be taken care of before filing the conversion application. The authority will grant the approval of conversion after satisfying itself that the Company has complied with the requisite provisions for registration of company. If so satisfied, ROC shall cancel the former registration of company and issue fresh certificate of incorporation.
The primary reason for going with such conversion is expansion and diversification of existing company’s business or the company craves for seed funding and want to bring a Initial Public Offer (IPO) after getting itself listed in the stock exchange. Conversion of private to public company takes place with the prior approval of Registrar of Companies (ROC) of the state in which the company registered office is situated.
At Unilex Consultants we provide you a hassle free Conversion of private company into public company which would be dealt by our experienced advocates within a time frame. Our team takes care of the documentation and steps for conversion of private company into public company.
Yes, you need a minimum of three Directors for a public limited company. If you are sole owner, you can register as a One Person Company.
The entire procedure is 100% online and you don’t have to be present at our office or any other office for conversion. A scanned copy of documents has to be sent via mail.
A Public Limited Company must hold a Board Meeting at least once in every 3 months. In addition to the Board Meetings, an Annual General Meeting must be conducted by the Public Limited Company, at least once every year.
Yes, it is the discretion of the authority whether to allow or disallow the conversion. All the prior abovementioned conditions needed to be fulfilled before conversion.
Actually, the shareholders are the owners of a public limited company, but they vote and elect a board of directors who have the power to manage and control the company on behalf of the business.
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I have registered my PVT LTD company and Trade MARK through UNILEX, had a smooth process and also their price are very reasonable across the industry. Great Work Guys.......
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