Pvt ltd to public limited company in bangalore
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Overview
Private Limited Company
A company that is privately held for small businesses. The liability of the members of a private limited company is restricted to the number of shares respectively held by them. The shares of a private limited company can’t be traded.
Public Limited Company
A company whose shares are traded on a stock exchange and can be purchased and traded by anyone. It is also called a publicly held company. As the name suggests, a public limited company is a company that offers company shares to the general public. The Company’s Act 2013 also defines a public limited company as one that has limited liability and offers company shares to the public. Anyone can acquire the stocks of such a company either through stock-market trading or via IPOs ( Initial Public Offerings).
Advantages
Quick Share Transfer :
Shareholders of a public limited company can transfer their shares with great ease. All they need to do is file the share transfer form and hand over the share certificate to the buyer. The process of transferring a share to another business structure is very tedious.
Raise Capital :
The advantage of the public limited structure is that you can leverage it to raise capital from the general public through shares. This would, however, require listing on a stock exchange. All public limited companies can issue fixed deposits, debentures, convertible debentures to the general public.
Greater Credibility :
Public limited companies need to disclose their audited statement of accounts, inform the regulatory bodies of any structural change, and hold annual general body meetings for all shareholders. These compliance procedures bring a great deal of credibility to the organization.
Process
1. Board resolution for approval for conversion and alteration of memorandum & article of association
2. Special resolution for approval for conversion and alteration of memorandum & articles of association and change of name to delete word “Private” 3. eForm MGT-14 for filing the resolution with Registrar within 30 days of passing special resolution alongwith: (a) Special resolution (b) Notice & explanatory statement (c) Altered memorandum & articles of association
4. eForm INC.27 for application for conversion of company with ROC within 15 days of passing of special resolution along with: (a) Special resolution (b) Minutes of members’ meeting (c) Altered articles of associationx
5. Compliance of provisions applicable on public companies like appointment of addtional no. of Directors and increase in no. of members.
Documents Required
- A copy of the directors’ PAN card.
- Passport size photographs of directors.
- Copy of Aadhar card or voter ID.
- Copy of the rental agreement.
- Electricity or water bill (Business place).
- The copy of property papers, if it is owned.
- Landlord NOC (No Objection Certificate) for providing the format.
Checklist
- DSC (Digital Signature Certificate) and DIN ( Director Identification Number ) of two directors.
- Preparation of MOA ( Memorandum of Association ) and AOA ( Articles of Association).
- PAN ( Permanent Account Number ) and TAN ( Tax Deduction and Collection Account Number) card.
- Name search, applicationand name reservation.
- CIN (Certificate of Incorporation).
Faqs
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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.