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Sumit Phadnis (Lawyer)     31 December 2008

Procedure for conversion of pvt ltd company to section 25 company

Hello Friends,

Could anyone tell me what is the procedure for conversion of the exisiting Private Company to S 25A company?


Also will have it any effect if there is a loss sitting in the present
private limited Company?

Thanks in advance.

Adv. Sumit Phadnis



Learning

 4 Replies

Manish Singh (Advocate)     31 December 2008

just change your MoA which should show that the main purpose or business of the company shall be any charitable purpose. you need not reincorporate the company.

RAKHI BUDHIRAJA ADVOCATE (LAWYER AT BUDHIRAJA & ASSOCIATES SUPREME COURT OF INDIA)     01 January 2009

Yes I do agree with Mr. Manish Singh. U wll have to amend/change only MoA f the existing company which should show that the main purpose or business of the would be company , whatever it may be. you need not reincorporate the company.

J Manivannan (Advocate & Consultant)     16 April 2009

 Dear Members,

CONVERSION FROM PRIVATE LIMITED TO SECTION 25 COMPANIES.

Now the CG has delegated power to Regional Director to issue license for establish a section 25 company. 

Existing company...

1. To make amendment in MoA of company. Amended objects must be fall under ambit of section 25 (Non-profit manner).

2. To make amendment in AoA of company relating to distribution of dividend, managerial remuneration etc...

3. Various enclosures are require by RD for issue license, 

4. The application shall be made through e-Form-24A. The following documents must be enclosed with Form 24 A.

1.      Amended MoA & AOA (SRN of Form-23)

2.      Last two years Balance sheet and Profit & Loss Account

3.      Declaration by advocate or company secretary regarding conformity with provisions.

4.      Declarations as per annexure V of the companies Act

5.      Resolutions passed by both members and board.

Kindly engage practicing company secretary for aforesaid proceeding to implement.

 

 

 

 


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