Conversion of companies already registered

A public Limited company can convert itself into Private limited or a Private Limited can convert itself into Public Limited.

1 A company of any class registered under this Act may convert itself as a company of other class under this Act by alteration of memorandum and articles of the company in accordance with the provision of this Chapter.

 

2.Where the conversion is required to be done under this section the registrar shall on an application made by the company after satisfying himself that the provision of this Chapter applicable for registration of companies have been complied with close the former registration of the company and after registering the documents referred to in sub- section (1) issue a certificate of incorporation in the same manner as its registration.

3.The registration of a company under this section shall not affect any debts liabilities, obligations or contracts incurred or entered into by or behalf of the company before conversion and such debts liabilities, obligations and converts may be enforced in the manner as if such registration had not been done.