PUBLIC LIMITED TO PRIVATE LIMITED

In India, the share transferability of a private limited company is limited to 50 shareholders, and they are restricted from freely trading their shares with the general public. However, a Public Limited Company does not suffer such limitations and its shares may be freely traded amongst the general public.

In contrast to Public Limited Company, Private Limited Company has fewer rules and regulations applicable to it. Though it has more restrictions, but it also has to comply with fewer rules and provisions. 

Minimum Requirements:

• Minimum 2 shareholders
• Directors and Shareholders can be same person
• Minimum 2 Directors
• DIN for all directors

Documents Required for the Conversion to Private Company:

Documents required for Conversion of Public Company to Private Company are same as documents required for Incorporation of a Public/Private Company along with other documents.

• Altered memorandum and articles of association.
• Notice of Extra-Ordinary General Meeting (EGM) which was held to obtain approval of members for the conversion of a Public Limited Company to Private Limited Company.
• A certified true copy of the special resolution approving such conversion.
• Minutes of the Meeting where approval was given for conversion.
• Other additional documents as may be required.