Tuesday, July 8, 2014

Conditions For Converting Section 8 Company Into Any Other Kind of Company

Procedure for New Company Registration is not so tough as compared to conversion of company from one form to another in all over India such as in Delhi Noida Gurgaon Ghaziabad Ranchi Patna Uttarakhand etc. Following are the conditions for conversion of Section 8 Company into another form of Company:-

(1) There required to pass a special resolution in its General Meeting for approval of such conversion.

(2) There must be annexed an explanatory statement to the notice of the general meeting and there must of details about the reason converting such company including the following:-

(a) Date of incorporation of company;

(b) The main objects of the company as mentioned in the MOA;

(c) Reasons for why activities for achieving the main objects of the company cannot be carried as a section 8 company;

(d) If main objects of the company are proposed to be altered then what would be the new object and the reasons for such change;

(e) List of all privileges and concessions enjoyed by the company at present i.e. tax exemptions or approvals for receiving donations and contributions including foreign donations or land and other immovable properties etc. and its utilization Statements

(f) Consequence and impact of the proposed conversion of Section 8 Company on the members of the company including list of any benefits that may accrue to the members from such conversion

(3) A copy of special resolution passed in general meeting along with copy of Notice convening the meeting consisting explanatory statement must be filed with the Regional ROC in Form MGT -14

(4) The company should file Form INC -18 with the Regional Director

It’s Duty of Company registration consultants in all over India to make aware of all the consequences and results from the conversion of section 8 and also make best possible option for New Private limited Company Registration or New LLP registration or OPC formation or Public Limited Company incorporation company in Delhi or Noida or Gurgaon or Uttarakhand or Ghaziabad or Ranchi or Patna.

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