Conversion of Private Limited Company into Public Limited Company
Get your Conversion of Private Limited Company Online through Tax Robo in Chennai and across India. The simple, hassle-free process to get your firm Conversion From Pvt Ltd Company to Public Ltd Company.
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Conversion of Private Limited Company
Tax Robo helps you to Convert Private Limited Company to Public Limited Company online. Find out the steps for Company Conversion From Pvt Ltd Company to Public Ltd Company.
Conversion of Private Limited Company
Conversion of a Private Company into a Public Company opens a new door of opportunities, especially in the form of fundraising and reach of the market. The company can raise funds through Public Issues and accept deposits too. This structure is appropriate for medium and large-scale Businesses. The conversion will be followed by the approval from the Government and alteration to MoA & AoA.
Further, a minimum of 7 members and 3 directors are required for conversion of Pvt Ltd to Public Ltd. The rights, liabilities, powers, and obligations remain the same for the company even after the conversion. Transfer of shares is possible as the restriction on transfer is removed on conversion.
Section 18 and 14 of the Companies Act, 2013 read with Rule 33 of Companies (Incorporation Rules, 2014) Section 14 of the Companies Act, 2013 plays an important role during the Conversion of a Private Limited Company into a Public Limited Company.
Conversion of a Private Limited Company into a Public Limited Company involves alteration of an article of association of Private Company Section 14 which cannot be done without passing a special resolution of Shareholders in the General Meeting.
Relevant Provisions for Conversion of Private Company
Section 13: Alteration of Memorandum of Association
Section 14: Alteration of Articles of Association
Rule 41: Application under Section 14 for conversion of public company into private company.
Procedures for Conversion of a Private Company into a Public Company
- Convene Meeting of the Board of Directors of the Company.
- Issue Notice for EGM.
- File E-Form MGT-14 along with the required documents.
- File E-Form INC-27 along with the required documents.
- Certificate of Incorporation from ROC.
Important Legal Registration Required
Basic Package
₹65999 .00
* All Exclusive
- Board approval & ROC approval
- MOA & AOA Drafting
- Digital Signature Certificate 2 Years Validity (7 Persons)
- Name Approval
- PAN & TAN
- Incorporation Fees Authorised Capital Of Rs.10 Lakhs
- GST Registration
- Incorporation Certificate
- Share Certificate
- Appoint First Auditor of the Company
- Free Bank Account Opening
Family Auditor
₹85999 .00
* All Exclusive
-
Board approval & ROC approval
- MOA & AOA Drafting
- Digital Signature Certificate 2 Years Validity (7 Persons)
- Name Approval
- PAN & TAN
- Incorporation Fees Authorised Capital Of Rs.10 Lakhs
- GST Registration
- PF & ESI Registration
- Incorporation Certificate
- Share Certificate
- Incorporation Certificate
- Appoint First Auditor of the Company
- Free Bank Account Opening
- Free Experts Consulting
Important Steps for before Conversion of Private Limited Company
Knowledge of the Business
✓ Do you have previous experience in the same Business? how many years?
✓ Product analysis with the questions of whether the product is under any restricted sales in India eg. Cement, Steel.
Marketing Strategy
✓ Marketing strategy is available with target customers.
✓ Pricing of products and margin available in the product.
Growth of the Business
✓ Growth of the Business in India for the next 5 to 10 years.
✓ Feasibility report of the Business and products.
✓ Business plans and projected Financial Product for 5 years.
Funds – Working Capital
✓ Sufficient working capital required for running the Business for a minimum period of 3 months. The funds can be own funds or Bank funds.
✓ How many months of Investment in the Business have required, returns on investments, and working capital funds available for fixed expense months?
Documents Required For Conversion of Private Limited Company
ID Proof
Scanned copy of PAN Card, Voter ID, Passport , Driving License
Registered Office Proof
No Objection Certificate (NOC) from the owner, Utility bill (should not be older than two months) and Notarized Rent agreement (in case of rented property) / Registry Proof or House Tax Receipt (in case of owned property)
Address Proof
Latest Bank statement/ Utility bill in the name of director which should not be older than two months
Photo
Latest passport size photograph
Compliance After Conversion of Private Limited Company
Statutory Obligations
✓ File GST return every month without delay
✓ PF & ESI return filing
✓ TDS Payments & Return filings
✓ Advance Tax payments
✓ File Income Tax return by every year before due date
Compliances
✓ GST registration
✓ PF & ESI Registration if applicable
✓ Profession Tax registration
✓ Import & Export Code registration
✓ STPI Registration / SEZ registration
✓ Secretarial compliance required for passing resolutions, Change in Management, entering contracts, loan obligations etc
Accounts & Operations
✓ Open a Bank account with one Private Bank and one scheduled Bank
✓ Get one accounting software with GST facility
Performance
✓ Review Financial Products performance by every 3 months
✓ Compare the budget amount with actual Financial Products results