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What is PUBLIC COMPANY TO PRIVATE COMPANY CONVERSION

Conversion of public limited company to private company takes place with the prior approval of National Company Law Tribunal (NCLT). It is a very cumbersome process as it not only involves alterations in MOA and AOA and dealing with all creditors of the company but also liasoning with various government authorities and involved many appearances in NCLT. The authority has the final discretion whether to grant the approval of conversion or not.

The primary reason for going with such conversion is that it provides lesser compliances, smooth operation of the company with lesser interference from shareholders and various exemptions provided to the private companies provided under companies act 2013.

At Unilex Consultants we provide you a hassle free conversion process which would be dealt by our experienced advocates within a time frame of 4-5 months and is subjective to governmental processing time. Our team takes care of the documentation and aids in provide you the realistic estimation of cost.

Advantages of conversion of public to private company


Lesser compliances as compared to public company.
Lesser interference of stakeholders
Smooth operations of the company
Various exemptions under companies act 2013 for private companies

Documents for Public to private company conversion


Latest financial statements

MOA and AOA

List and affidavit from creditors

Affidavits from Directors

Various signed resolutions

Signed vakalatnama

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Procedure for Public to private limited Company conversion

Preparing Board meeting and EGM documents, notices and resolutions

Alteration of MOA & AOA, and filing requisite e forms to ROC

Filing petition to NCLT after 3 months of passing of SR

Advertisement in 2 newspapers


Sending notices to creditors, ROC, RD.

Getting order and filing the requisite form with the ROC.

Under what circumstances tribunal may reject conversion application.

  • Tribunal may reject the application if it is not in the interest of Creditors and/or shareholders.
  • If application is made only to contravene or avoid any debt/liability of creditors or other stakeholders.
  • If against public interest and morality.
  • If frivolous petition made just to evade or contravene any provisions of the law.

FAQ’s About PUBLIC COMPANY TO PRIVATE COMPANY CONVERSION

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WHY CHOOSE UNILEX?

Well with highly qualified professionals in our team along with the technology gives edge over others, as a result highly rated professional services with full customer satisfaction is assured. We help to grow and manage your business letting you to concentrate on your business.

MSME REGISTERED
Unilex is registered with the Ministry of Micro, Small & Medium Enterprises (MSME), a part of Government of India.

ISO 9001:2015 CERTIFIED
Unilex is a ISO certified body, assuring the quality professional services to aspiring startups

MONEY BACK GUARANTEE
Subject to our terms and conditions, money back is guaranteed if we failed to give 100% customer satisfaction

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  • “With a proficient team of professionals, Unilex provides a ready solution for every business related problem and never compromises on the final quality of services provided”. Navnit Kachalia
    Chairman and Managing Director, Navnit Group of
    Companies, Mumbai

  • “Getting your work done through Unilex is surely giving it in safe hands. Without a second thought, get associated with them”.

  • “Unilex has its unique way of meeting all your legal compliances and that too at a comparatively low cost.” Sudhir Budhrani
    Managing Director, Sudhir Life Sciences Pvt. Ltd.
    Indore

  • “The best part about getting your work done through Unilex is, that they don’t share your trouble, indeed they make you trouble free!”

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