How Can a Private Limited Company be Converted to a Public Limited Company?
A Private Limited Company can convert to a Public Limited Company by altering its Articles in a way that it does not include the restrictions and limitations that are applicable to the articles of a private limited Company, i.e., number of members and directors, restriction on transfer of shares, acceptance of public deposits etc.
Firstly, the private limited Company (PLC) needs to conduct a Board Meeting and pass a board resolution to get the in-principal approval of Directors for the conversion of a private company into a public company by altering the AOA under section 14. In the meeting, the Board should also fix a date, time and place for holding an extra-ordinary General Meeting (EGM) to get an approval of the shareholders, by a sspecial resolution, for the conversion of a private company into a public company.
File an e-form MGT-14 for filing a special resolution with an ROC passed for conversion of Private Company into a Public Company and thereafter file an application for conversion of a Private Company into a Public Company viaForm INC-27.
Post conversion, intimate all the concerned authorities regarding the change in the status of Company and make necessary internal changes in letterheads and further official communications etc.
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