Reconversion into private company in the event of shareholding getting reduced to less than 25 per cent of paid up share capital and average annual turnover falling below Rs. 1 crore

Reconversion into private company in the event of shareholding getting reduced to less than 25 per cent of paid up share capital and average annual turnover falling below Rs. 1 crore https://www.taxtmi.com/circulars?id=10870 Provisions under section 43A mandate that a private company becomes a public company when specified conditions are met and requires compliance with statutory procedures within a three month period. If the former private shareholder's holding later falls below the prescribed shareholding threshold or the company's average turnover falls below the statutory threshold, the company may reconvert into a private company by complying with the reconversion procedure set out in the statutory provision. en-us Mon, 20 Oct 1975 00:00:00 +0530 Fri, 17 Jun 2011 15:13:00 +0530 TaxTMI RSS Generator Reconversion into private company in the event of shareholding getting reduced to less than 25 per cent of paid up share capital and average annual turnover falling below Rs. 1 crore https://www.taxtmi.com/circulars?id=10870 Provisions under section 43A mandate that a private company becomes a public company when specified conditions are met and requires compliance with statutory procedures within a three month period. If the former private shareholder's holding later falls below the prescribed shareholding threshold or the company's average turnover falls below the statutory threshold, the company may reconvert into a private company by complying with the reconversion procedure set out in the statutory provision. Circulars Companies Law Mon, 20 Oct 1975 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10870