PVT LTD Company to Public Limited Company
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Private-to-Public Conversion Procedure
Complete the Conversion of Private Limited company application form
Provide us Pertinent Documents
Make an Online Payment
Our executive will manage the application process for Conversion of Private Limited company
We will mail you a Certificate of Incorporation
Conversion of Private to Public Limited Company
Private limited firms have a lot to offer on their own, but eventually every private limited company wants to go public to increase scalability. Companies that offer the idea of an Initial Public Offering (IPO) and have the notion of shares for the general public include both private limited businesses and public limited companies. Private limited corporations have a restriction on the transferability of shares, which is lifted by an IPO.
The primary benefit of a public company is its ability to raise reserves on a wide scale without using the banking system and reduce debt, as opposed to a privately owned private company where all reserves are raised by the company’s current members, shareholders, and promoters. The risk is split among the shareholders if a private company turns public. Public enterprises that have their equities listed on stock exchange websites receive indirect support and promotion.
Thus, switching from private to public is typically motivated by expansion and flexibility. Contact Majestic Groupto take advantage of the advantages of Conversion of PVT LTD Company to Public Limited Company.
Documents for Conversion
A copy of each proposed partner’s PAN card
Passports, election cards or voter identity cards, ration cards, driving licenses, and Aadhaar cards are all acceptable forms of address or identity proof for Indian citizens not more than 2 months old.
The Partner’s Ownership Proof must include no more than 2 months old Electricity Bills, Telephone Bills, Gas Bills, Mobile Bills, or any other utility bills from the company location.
For Digital Signature Certificate we required two most recent passport photos.
All directors and members must provide the most recent bank statements no older than two months.
If a rented premises agreement or property papers are required, a copy of address proof is required.
The landlord NOC should be in given downloaded PDF format.
Minimum Requirements for Pvt Ltd to Public Limited Company
- ✔ Timely filing of income tax returns.
- ✔ All creditors must agree to the proposed conversion in LLP.
- ✔ Two partners are required, of whom at least one must be an Indian resident.
- ✔ DPIN & DSC for all Partners.
Process for Conversion of Pvt Ltd to Public Limited Company
1. Conduct Board Meeting
The proposed agenda shall be: –
- For approval of Conversion of Pvt Ltd Company to Public Limited Company subject from shareholder.
- For the shareholder’s consent to adopt a new set of MOA and AOA.
2. Conduct General Meeting
A general meeting may be convened by not fewer than 95% of the members eligible to vote at such a meeting and may be conducted as provided for in the articles if authorization is granted in writing or electronically.Following are the items on the agenda for the meeting:
- Approving a special resolution converting Pvt. Ltd. to a public limited company.
- For the adoption of the MOA and governing documents’ revised versions (AOA).
3. Submission of form
- Filing form MGT- 14 must be file about within 30 days of passing the special resolution with appropriate documentation.
- Within 15 days of the special resolution’s passage, form INC-27 must be filed with the necessary supporting documentation.
4. Getting MGT-14 and INC-27 Approved
If the ROC is satisfied that the Private Corporation complied with the required conversion conditions, the forms must be approved by the ROC.
5. Issue certificate
Once the forms MGT 14 and INC 27 have been accepted by ROC, a new certificate of incorporation will be issued, and the company’s previous registration will be cancelled.
How Does Converting a Pvt. Ltd. to Public Ltd Benefit You?
Shares are easily transferable
According to the Indian Contract Act of 1872, shares are legal instruments that can be freely transferred with the bare minimum of formalities.
Increased Borrowing Capacity
Banks and other financial institutions respect public company when they borrow money from them, which would increase the company’s visibility.
Separate Legal Entity
The directors and shareholders of a public limited business benefit from the separate legal entity idea which indicates that the director’s and member’s liability is strictly capped at a certain sum
Shares can be listed in the Stock Exchange
Shares of a public Company can be listed on a stock exchange. Yet, the public Company must adhere to compliance when listing its shares on a stock exchange.
Easy Acceptance of Deposits
In accordance with Section 76 of the Companies Act of 2013, Public Companies are permitted to accept deposits from the general public.
Raise Capital
You can make use of the public limited structure, which has it all and necessitates listing on a stock market, to raise money from the general public via shares. Debentures, fixed deposits, and convertible debentures can all be issued to the general public by public limited companies.
Enhanced Reliability
Public limited companies must convene annual general meetings attended by all shareholders, disclose their audited financial statements, and inform regulatory agencies of any structural changes. The company has credibility thanks to these standards.