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Conversion of a Public Company to a Private Company

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 September 2010 In the conversion of a Public Company to a Private Company,a requirement is to obtain consent from every creditor to whom a substantial amont is owed.What is the meaning of the word "substantial creditor" ?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
27 September 2010 More than Rs. 100,000/- outstanding.
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Querist : Anonymous

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Querist : Anonymous (Querist)
27 September 2010 Is this amount mentioned in the Act?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
27 September 2010 I have seen the same here
https://www.caclubindia.com/articles/conversion-of-a-public-company-into-a-private-company-5710.asp

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