In the process of converting a closely held public co into pvt co., is the requirement of giving newspaper advertisement and obtaining no objection from creditors of more than 1 lac value applicable?????
11 April 2011
hi, you can done away with advertisement by attaching a statement/declaration that "that 100% shareholding is held by X ltd hence no need to have public advertisement to that effect. further, NOC from creditors is required, though not all. attached scan copy of certificate of posting from postal dept will suffice.
CAclubindia
