Assessment and Planning: Evaluating eligibility and structuring the conversion process based on client needs and regulatory requirements.
Regulatory Compliance: Ensuring full compliance with Companies Act provisions and other relevant regulations governing the conversion process.
Documentation Preparation: Drafting necessary documents such as board resolutions, shareholder resolutions (if applicable), amended Memorandum and Articles of Association (MOA/AOA), and other statutory filings.
Filing and Submission: Managing the filing process with the Registrar of Companies (ROC) or equivalent regulatory authority, including necessary forms and fees.
Legal Due Diligence: Conducting legal reviews to verify compliance and accuracy of documentation.
Communication and Coordination: Facilitating communication with stakeholders and regulatory authorities throughout the conversion process.
Post-Conversion Compliance: Advising on post-conversion obligations like updating statutory registers and compliance with ongoing regulatory requirements.
Strategic Guidance: Offering strategic advice on corporate governance and operational considerations post-conversion.
Conflict Resolution: Providing support in resolving disputes or issues that may arise during the conversion process.
Continuous Support: Offering ongoing compliance support and guidance post-conversion to ensure regulatory integrity.
1. Conversion Application
The documents required for converting a Private Limited Company (PLC) to a Limited Company typically include:
Board Resolution: A resolution passed by the board of directors approving the conversion and authorizing the filing of necessary documents.
Shareholder Resolution: A special resolution passed by the shareholders of the Private Limited Company approving the conversion, especially if required by the Articles of Association.
Amended Memorandum of Association (MOA): The MOA of the Private Limited Company needs to be amended to reflect the change in structure and objectives as a Limited Company.
Amended Articles of Association (AOA): The AOA must also be amended to align with the requirements and regulations applicable to a Limited Company.
Form MGT-14: This form is required under the Companies Act, 2013 (in India) and is used for filing resolutions and agreements to the Registrar of Companies (ROC).
Form INC-6: This form is used for making an application to the ROC for conversion of a Private Limited Company into a Limited Company, along with the required documents and fees.
Identity Proof: Identity proofs (such as PAN card, Aadhaar card, passport, etc.) of the directors and shareholders of the Limited Company.
Address Proof: Address proofs (such as Aadhaar card, passport, utility bills, etc.) of the directors and shareholders of the Limited Company.
Proof of Registered Office: Documents verifying the registered office address of the Limited Company, such as rental agreement, lease agreement, or property documents.
Director Identification Number (DIN): DIN of the directors of the Limited Company, if not already obtained.
Digital Signature Certificate (DSC): DSC of the directors or authorized signatories for signing the e-forms required for the conversion process.
Financial Statements: Audited financial statements of the Private Limited Company up to the date of conversion, if required by the ROC or as per regulatory guidelines.
NO Objection Certificate (NOC): NOC from creditors, if applicable, confirming that they have no objection to the conversion of the Private Limited Company into a Limited Company.
Other Documents: Any other documents as may be required by the ROC or regulatory authorities based on specific circumstances or jurisdictional requirements.
What is the difference between a Private Limited Company (PLC) and a Limited Company?
A Private Limited Company requires a minimum of two shareholders and directors, whereas a Limited Company may have more extensive shareholder participation and different regulatory requirements.
Why should I convert my Private Limited Company to a Limited Company?
Converting to a Limited Company may involve simplifying corporate structure, complying with specific regulatory requirements, or accommodating changes in business strategy.
What are the eligibility criteria for converting a Private Limited Company to a Limited Company?
Eligibility criteria typically include compliance with Companies Act provisions, meeting minimum shareholder requirements, and fulfilling regulatory obligations.
What is the process for converting a Private Limited Company to a Limited Company?
The process involves obtaining board and shareholder resolutions, amending the Memorandum and Articles of Association, filing Form MGT-14 and Form INC-6 with the Registrar of Companies, and complying with regulatory requirements.
Do I need to change the name of my company during the conversion?
Not necessarily. The company can retain its existing name if it meets the requirements under the Companies Act and is available for registration.
