Conversion of co-operative credit society into pvt ltd co

siddaram (Querist) 25 August 2013 This query is : Resolved
we have a credit co-operative society, we want change into a pvt ltd company weither its possible ? if possible means how it is?

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Raj Kumar Makkad (Expert) 25 August 2013
It is not possible to change it directly rather the cooperative credit society shall require its winding up as per its rules and thereafter the private limited company as per rules can be formed.

Sudhir Kumar, Advocate (Expert) 27 August 2013
if such like conversion could have been allowed then CBI may not have registered cases on bagful of cooperative housing societies.

You created a cooperative and raised assets and now want to switch over as trader. Everyone will see through the plan.

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