Private Limited Company to Public Limited Company Conversion Services

Private Limited Company to Public Limited Company Conversion Services

Converting your private limited business into a public limited company is a straightforward process with the right guidance. At TaxMyles, we offer expert services to assist in the seamless transition from private to public limited company.

  • Professional assistance in drafting resolutions to amend the MOA and AOA.
  • Ensuring full compliance with all regulatory requirements during the conversion.
  • Simplified documentation and filing, including forms MGT-14 and INC-27.
  • Complete post-conversion support, including updates to your PAN card.
  • Expert advice on the complexities involved in transitioning to a public company.

Overview of Conversion from Private Limited Company to Public Limited Company

Converting a private limited company to a public limited company is a significant milestone that opens up opportunities for greater capital investment. A public limited company can raise funds by issuing shares to the public, attracting a wider base of investors. This process involves meeting various legal and regulatory requirements, such as obtaining shareholder approval, Registrar of Companies (ROC) consent, and amending the Memorandum and Articles of Association. Seeking professional guidance from experts like TaxMyles ensures a smooth and compliant transition from a private to a public limited company.

Procedure for Converting a Private Limited Company to a Public Limited Company

Here is the step-by-step process for converting a private limited company into a public limited company:

  1. Notice for Board Meeting: Issue a notice for the board meeting to discuss the conversion and plan an Extraordinary General Meeting (EGM).
  2. Board Meeting: Approve the conversion to a public limited company and adopt the amended Memorandum (MOA) and Articles of Association (AOA), subject to shareholder approval.
  3. Notice for EGM: Send a notice to shareholders at least 21 days before the EGM (or shorter if 95% consent is obtained).
  4. Conduct EGM: Pass a special resolution to convert to a public limited company and approve the amended MOA and AOA.
  5. File Form MGT-14: File Form MGT-14 with the Registrar of Companies (ROC) within 30 days of passing the resolution, with required attachments.
  6. File Form INC-27: File Form INC-27 with ROC within 15 days, with necessary documents including the special resolution and minutes of the EGM.
  7. ROC Approval: ROC reviews and approves the filed forms if the conversion requirements are met.
  8. Certificate of Incorporation: Upon approval, ROC issues a fresh Certificate of Incorporation, confirming the company’s conversion to a public limited company.

Documents Required for Conversion of Private Limited Company to Public Limited Company

1. PAN Card and Identification Documents:

PAN card copies of shareholders and directors

Valid passport for foreign nationals

Identification documents (Voter ID, Driving License, Passport) of shareholders and directors

2. Address Proof:

Electricity bill, telephone bill, or latest bank account statement as address proof for shareholders and directors

3. Passport-Size Photographs:

Recent passport-size photographs of shareholders and directors

4. Business Residence Proof:

Telephone bill or electricity bill of the registered office address

5. No Objection Certificate (NOC) from Landlord:

NOC from the owner(s) of the registered office premises

6. Rent Lease Agreement:

If applicable, a lease agreement for the registered office premises

7. Income Tax Return (ITR):

Copy of the income tax return filed for the previous fiscal year

8. Notarized Documents for NRI or Foreign National Directors:

Notarized documents for Non-Resident Indians (NRIs) or foreign nationals as directors

9. Financial Statements:

Duly attested copy of the latest audited financial statements of the company

10. Incorporation Certificates:

Copies of the Declaration of Incorporation, Memorandum of Association (MOA), and Articles of Association (AOA)

Why Choose TaxMyles for Converting Your Private Limited Company to Public Limited Company?

Converting a Private Limited Company to a Public Limited Company helps businesses restructure their operations, raise public capital, and achieve strategic goals while focusing on their core competencies.

TaxMyles provides expert services in the conversion process, working closely with your professional team to optimize your financial strategy. Our goal is to enhance shareholder value while aligning with your growth and profit objectives, ensuring a seamless transition to a public limited company.