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Section 13
Converting a private company into a public company
: (1) A private company shall be converted into a public company in accordance with this section in the following cases:-
(a) If the general meeting of a private company passes a special resolution and decides to convert that company into a public company, but if the necessary conditions are not fulfilled according to this Act for the purpose of becoming a public company, the private company cannot be converted into a public company.
(b) ……………….
(c) …………………
(2) In the case of clause (a) of sub-section (1), the concerned private company shall submit an application to the office within thirty days from the date of such decision to be converted into a public company, along with the prescribed documents, with a copy of the decision mentioned in that section attached.
(3) If an application is received before the office in accordance with sub-section (2), if the relevant private company has fulfilled the necessary conditions for conducting business as a public company in accordance with this Act, a certificate of conversion of the company as specified within sixty days from the date of the conversion of such company into a public company in the company registration book. Will have to give.
(4) ………….
(5) …………..
(6) ………….
(7) …………..
(8) If a private company is converted into a public company in accordance with this section, from the date of such conversion, the provisions applicable to public companies in accordance with this Act shall be deemed to be automatically applicable to such company.
(9) If a private company is converted into a public company in accordance with this section, all the assets and liabilities of the private company so converted shall be transferred to the latter company.
(a) If the general meeting of a private company passes a special resolution and decides to convert that company into a public company, but if the necessary conditions are not fulfilled according to this Act for the purpose of becoming a public company, the private company cannot be converted into a public company.
(b) ……………….
(c) …………………
(2) In the case of clause (a) of sub-section (1), the concerned private company shall submit an application to the office within thirty days from the date of such decision to be converted into a public company, along with the prescribed documents, with a copy of the decision mentioned in that section attached.
(3) If an application is received before the office in accordance with sub-section (2), if the relevant private company has fulfilled the necessary conditions for conducting business as a public company in accordance with this Act, a certificate of conversion of the company as specified within sixty days from the date of the conversion of such company into a public company in the company registration book. Will have to give.
(4) ………….
(5) …………..
(6) ………….
(7) …………..
(8) If a private company is converted into a public company in accordance with this section, from the date of such conversion, the provisions applicable to public companies in accordance with this Act shall be deemed to be automatically applicable to such company.
(9) If a private company is converted into a public company in accordance with this section, all the assets and liabilities of the private company so converted shall be transferred to the latter company.