https://www.taxtmi.com/caselaws?id=343695 The Tribunal approved the conversion of a public company into a private company under Sec. 14(1)(b) of the Companies Act, 2013. The Tribunal held that the notification by the Ministry of Corporate Affairs rendered Rule 33 of the Companies (Incorporation) Rule, 2014 redundant, emphasizing the necessity of Tribunal approval for conversion. It was reasoned that the powers under Sec. 14(2) of the Act supersede old provisions, and the statute prevails over rules. The conversion process was found to be in the company's interest without prejudicing members or creditors, with directions to communicate the altered articles to the Registrar within 15 days. en-us Tue, 04 Apr 2017 00:00:00 +0530 Wed, 31 May 2017 14:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343695 The Tribunal approved the conversion of a public company into a private company under Sec. 14(1)(b) of the Companies Act, 2013. The Tribunal held that the notification by the Ministry of Corporate Affairs rendered Rule 33 of the Companies (Incorporation) Rule, 2014 redundant, emphasizing the necessity of Tribunal approval for conversion. It was reasoned that the powers under Sec. 14(2) of the Act supersede old provisions, and the statute prevails over rules. The conversion process was found to be in the company's interest without prejudicing members or creditors, with directions to communicate the altered articles to the Registrar within 15 days. Case-Laws Companies Law Tue, 04 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343695