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Conversion from public ltd to private ltd co.

Anuj Tulsyan (Student) (40 Points)

17 July 2014

I want to convert a Public limited company incorporate in 1993 into Pvt Ltd company.

I have gone through MCA Circular No. 18 dated 21.06.2014, which clear that conversion will take place u/s 31 of CA 1956.

However i have some concern :-

1) Do company require to publish paper ad?
2) Should company obtain NoC from creditors?
3) Do company require to adopt new MoA & AoA as per the companies Act 2013 or amended MoA & AoA as per the companies Act 1956.

Thank you.

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4 Replies

CS khushbu (CS) (23 Points)
Replied 25 July 2014

Dear Mr. Anuj, As per my knowledge and understanding, since the circular is very clear that the conversion has to be done as per CS 1956, so it is neccessary to ost paper ad and to obtain NOC form creditors. I am also considering the conversion of my company and is also in dilemma. I have a query, since CLB is now not i existence, so to whom petition is to be address and deposit-ROC or RD

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CS khushbu (CS) (23 Points)
Replied 25 July 2014

CS khushbu (CS) (23 Points)
Replied 26 July 2014

Sorry i mixed my two querry.. I want to ask if company has more than 50 creditors, then NOC from every creditor is needed to be attach in the form along with other documents ...

Anuj Tulsyan (Student) (40 Points)
Replied 26 July 2014

Dear Khusbu, if you go through the MCA Circular No. 18 dated 21.06.2014, you need not to file your petition before CLB. This power is still with RoC, as in CA 1956.