Special Resolution For Conversion of Private Company Into Public Company

Special-Resolution-Conversion-Private-Company-Into-Public-Company

As per the provisions of section 14(1) of the Companies Act, 2013 Subject to the provisions of this Act and the conditions contained in its memorandum, if any, a company may, by a special resolution, alter its articles including alterations having the effect of conversion of—



(a) a private company into a public company; or
(b) a public company into a private company:

Provided that where a company being a private company alters its articles in such a manner that they no longer include the restrictions and limitations which are required to be included in the articles of a private company under this Act, the company shall, as from the date of such alteration, cease to be a private company:

   
  Special Resolution For Conversion of Private Company Into Public Company

RESOLVED THAT pursuant to the provisions of sections 14(1) and other applicable provisions of the Companies Act, 2013 the status of the Company be and is hereby converted from PRIVATE LIMITED into PUBLIC LIMITED Company.”

RESOLVED FURTHER THAT the name of the Company be and is hereby changed from XYZ PRIVATE LIMITED to XYZ LIMITED by deletion of the word 'Private' before the word Limited in the name of the Company and necessary corrections in the name Clause of the Memorandum and Articles of Association and all such other papers, documents and matters be made to give effect of the changed name accordingly.”

Explanatory Statement

The Company was incorporated on ___________ as a Private Limited Company which put some restrictions on the Company limiting its scope of working. The Board of directors of the Company considered that looking into the expanded business activities the Company should be converted into a Public Limited Company to get confidence of the public as a whole.

As per the provisions of section 14(1) and other applicable provisions of the Companies Act, 2013 consent of the Members is required by way of Special Resolution to convert the Company from Private Limited to Public Limited.

Therefore your directors recommend the resolution for approval as a Special Resolution as set out under item no. … to … to of the Notice of the Meeting.

None of the Directors, KMP’s of the Company or their relatives are interested in this resolution.
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