https://www.taxtmi.com/caselaws?id=346331 The tribunal approved the conversion of a public company to a private company under the Second Proviso to Section 14(1)(b) of the Companies Act, 2013. Objectors raised concerns regarding share consolidation and shareholder rights but failed to demonstrate harm to the company's interests. The applicant company conducted a rights issue and obtained shareholder approval for the conversion, citing benefits such as enhanced operational efficiency. The tribunal found the conversion beneficial for the company, directing necessary alterations and registration with the Registrar of Companies. The petition for conversion was granted in favor of the applicant company. en-us Fri, 31 Mar 2017 00:00:00 +0530 Wed, 26 Dec 2018 10:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346331 The tribunal approved the conversion of a public company to a private company under the Second Proviso to Section 14(1)(b) of the Companies Act, 2013. Objectors raised concerns regarding share consolidation and shareholder rights but failed to demonstrate harm to the company's interests. The applicant company conducted a rights issue and obtained shareholder approval for the conversion, citing benefits such as enhanced operational efficiency. The tribunal found the conversion beneficial for the company, directing necessary alterations and registration with the Registrar of Companies. The petition for conversion was granted in favor of the applicant company. Case-Laws Companies Law Fri, 31 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346331