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Alteration of aoa

ifla almaas (student) (84 Points)

08 November 2012

What are the points to be kept in my mind while altering the articles of association of a private company to convert it into public company?

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CA Bhargav Nathwani (CA in Practice) (8307 Points)
Replied 09 November 2012

Pass SR deleting the Restriction set out u/s 3(1)(iii)

Pass SR for deleting the word 'Private" fro mthe name of company.

Approval of CG is not requied for such change.

File: Prospectus OR SILP; and

The compant shall complt with all the provision relating to the Public company.

+++++++ No. of MEMBER to 7

+++++++ No. of director to 3

+++++++ Paid up capital to 5 lacs..

The registrar shall issue fresh certificate if incorporation containing the changed name of compant i.e. existing name with the word "private" deleted

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ifla almaas (student) (84 Points)
Replied 09 November 2012

If the private company was a joint venture between two other entities in that case can an article be incorporated stating that no shares shall be transferred without prior consent of the promoters.