V HAMSAPRIYA (Operations and Finance Manager) (52 Points)
25 February 2010Hi Forum Member,
We are interested to amend the MoA and AoA to convert an existing private company incorporated under section 25 to a public company under the same section.
This is to lift-up the restriction on the number of members currently which is limited to a 50 for pvt company.
Is this possible/allowed?
Regards,
Priya
C A GROUP COACHING
(COACHING )
(2487 Points)
Replied 25 February 2010
In my Opinion NO you cannot convert a sec 25 co
Rasesh
(CS CWA MBA (Fin) B.Com LL.B (Spl))
(6501 Points)
Replied 26 February 2010
In my view, it is possible. I am not aware of any reason as to why a company should not be allowed to convert itself into a public limited company only because it is a Sec. 25 Company.
Rasesh
(CS CWA MBA (Fin) B.Com LL.B (Spl))
(6501 Points)
Replied 26 February 2010
In my view, it is possible. I am not aware of any reason as to why a company should not be allowed to convert itself into a public limited company only because it is a Sec. 25 Company.
CAclubindia
