conversion of a pvt ltd company into a public ltd company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 December 2009
A pvt ltd co is going for private placement of its shares.Will the status of the company change only if after the private placement the number of members increases beyond 50
14 December 2009
A private company doesnot get converted into a public company merely by inreasing the number of members beyond 50. It has to follow the procedure for conversion into a public limited company.
Ankur Garg
(Expert)
14 December 2009
If you cross the limit of 50 members then ROC will treat your company as a public company.
Refer section 43 of companies act, 1956.
Refer section 43 of companies act, 1956.
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