As we are aware that the private companies have lesser number of compliances as compared to public limited company, therefore primary reason for going with conversion of public company into private company 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. Earlier the conversion approval was granted by the NCLT, but in the year 2018 with the amendment, the power has been shifted to the Regional director (RD).
Public company to private company conversion 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 liaisoning with various government authorities and involved many appearances in RD. Special resolution of the members and NOC from all the creditors needed to be obtained before filing the conversion application to the RD. The authority has the final discretion whether to grant the approval of conversion or not.
At Unilex Consultants we provide you a hassle free conversion of public company into private company which would be dealt by our experienced professionals within a time frame. Our team takes care of the documentation and aids in provide you the realistic estimation of cost.
Lesser compliances as compared to private company.
Lesser interference of stakeholders.
Smooth operations of the company.
Various exemptions under companies act 2013 for private companies.
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.
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