Queries regarding conversion of public company into private

This query is : Resolved

shanky budhiraja (Querist)
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01 November 2011 Dear Freinds,

Please guide me on the following issues:-

Brief about Company:-

A Ltd is a Public Limited Company having 1000 shares (6 Promoters + others are public). It’s a NBFC Non-deposit taking Company. A Ltd. wants to convert itself into Private Limited Company.

Queries in the matter of conversion from Public Company into Private Company:-

1.What can be the purpose of conversion?

2.In Private Limited Company the limit of members can only be 50, so what we do if public shareholders are not willing to pay their stake at EGM?

3.What will be the price offered to the shareholders for giving exist opportunity?

4.Is there any legal issues can be raised after conversion

5.Any other authorities permission is required e.g. RBI.

6.Please advice me on the above mentioned issues alongwith practical example if any cited.

Thanks in advance

Shanky Budhiraja