Conversion of already registered companies

Conversion of a registered company

Company registration of any company of any class register under this Act may change over itself as a company of different class under this Act by adjustment of reminder and articles of the company as per the arrangements of this Act.

Where the change is required to be done under this section, the Registrar will on an application made by the company, subsequent to fulfilling himself that the arrangement of this Act is important for company registration have been gathered with, close the previous company registration and in the time of registering the archives alluded to in sub-section

1)issue an company registration or incorporation certificate in indistinguishable way from its first control.

2)The company registration under this section will not influence any obligations, liabilities, commitments or contracts brought about or went into, by or for the benefit of the company before transformation and such obligations, liabilities, commitments and contracts might be upheld in the way as though such company registration had not been finished.

Converting a private company into One Person Company

1)A private limited company other than a company registered under segment 8 of the Act having paid up offer capital of fifty lakh rupees or less or normal yearly turnover amid the significant period is two crore rupees or less may change over itself into one individual company by passing an exceptional goals in the general gathering.

2)Before passing such goals, the company will acquire No complaint recorded as a hard copy from individuals and loan bosses.

3)The one person company will record duplicate of the uncommon goals with the Registrar of Companies inside thirty days from the date of passing such goals in Form No.MGT.

4)The company will record an application in Form No.INC for its transformation into One Person company along with the charges as gave in the Company registration offices and expenses Rules, 2014, by connecting the accompanying reports, to be specific:-

i)The directors  of the company will give a presentation by method for testimony appropriately sworn in affirming that all individuals and the investors of the company have given their assent for transformation, the paid up offer capital company is fifty lakh rupees or less normal yearly turnover is under two crore rupees, by and large;

ii)the rundown of individuals and rundown of fund providers;

iii)the most recent Audited Balance sheet and the benefit and misfortune account and

iv)the duplicate of No protest letter of anchored loan bosses.

On being fulfilled and followed necessities expressed in this the company registration office will issue the Certificate of company registration.

The Legislative condition compares to area 32 of the Companies Act, 1956 and tries to give that a company may change over itself in some different class of company by modifying its update and articles of affiliation. The conversion will not influence any obligations, liabilities, commitments or contracts brought about or went into by the company.

Any company registration of any class registered under this Act may change over itself into a Company of different class under this Act by modification of its Memorandum and Articles of relationship with their particular new sets.

The company registration under this area will not influence any obligations, liabilities, commitments or contracts acquired or went into by or in the interest of Company before company registration. No company will, either without anyone else’s input or through its chosen people, hold any offers in its holding company and no subsidiary company will apportion or exchange its offers to any of its backup companies and any such portion or exchange of offers of a company registration to its auxiliary company will be void:

Given that nothing in this sub-segment will apply to a case-

a)where the auxiliary company holds such offers as the lawful delegate of a perished individual from the holding organization; or

b)where the auxiliary company registration holds such offers as a trustee; or

c)where the backup company is an investor even before it turned into an auxiliary company of the holding company:

Given further that the subsidiary company referred to in the first provision will have a directly to cast a ballot at a gathering of the subsidiary company just in regard of the offers held by it as a legitimate agent or as a trustee, as referred to in provision (an) or condition (b) of the said arrangement.

2)The reference in this segment to the offers of a holding company registration which is a company restricted by assurance or an unlimited company, not having an offer capital, will be built as a kind of perspective to the enthusiasm of its individuals, whatever be the type of intrigue.

This statement compares to section 42 of the Companies Act,1956 and tries to give that except if generally gave, company registration .

Company will not hold partakes in its subsidiary company will designate or exchange its offers of a company to its subsidiary  will be void.

Auxiliary can hold partakes in Holding Company as trustee, regardless of whether Holding or backup is recipient of the equivalent, which isn’t permitted under the Companies Act, 1956. The confinement of holding offers of its subsidiary company is forced on a company registration and the expression “Body Corporate” is evacuated thereof.

1)A file might be served on a company registration or an officer thereof by sending it to the company or the officer at the registered office of the company by registered post or by speed post or messenger benefit or by abandoning it at its enlisted office or by methods for such electronic or other mode as might be endorsed:

Administration of documents

1)A archive might be served on a company registration or an officer thereof through electronic transmission.

2)For the motivations behind sub-rule (1), the expression, “electronic transmission” signifies a correspondence

a)delivered by-

i)facsimile media transmission or electronic mail when coordinated to the copy number or electronic mail address, separately, which the registered office or the workplace

ii)posting of an electronic message board or system that the company or the officer has assigned for such correspondences, and which transmission will be legitimately conveyed upon the posting and company registration; or

iii)other methods for electronic correspondence,

in regard of which the company or the officer has set up sensible frameworks to check that the sender is the individual indicating to send the transmission; and

b)that makes a record that is fit for maintenance, recovery and survey and which may thereafter be rendered into obviously neat unmistakable shape.

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