One company has just got converted from a private limited company to a public limited company.
Pls let me know all the formalities that one needs to comply with immediately, on the conversion. I mean right from changing the common seal, constituting an Audit Committee, etc..I would appreciate if someone could send me a checklist of items/ activities to comply with. Thanks
05 April 2010
Following should be keep in mind on conversion of Pvt. Co. into Public Co.
1. Make necessary changes in MOA and AOA of the co. relating to the name clause, Capital clause (minimum cap. 5 lakhs). 2. Any alterations relating to the provisions applicable to a Public Company must also be effected in the amended Articles of Association of the Company. 3. Change new common seal. 4. Change the name of co. on the documents use for correspondance. 5. Obtain revised Certificate of Incorporation of the Company. It should however be noted that Certificate of Commencement of Business need not be obtained from ROC for companies converting from private to public company. Although the company becomes a public limited company immediately on passing of Special Resolution, the change in its name becomes complete and effective only on the issue of the fresh Certificate of Incorporation. 6. Get new rubber stamps.
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