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2018 (1) TMI 1179 - Tri - Companies LawChange of status of the Company from “Public Limited Company” to “Private Limited Company” - conversion by altering the Articles of Associations, as sought to be effected by a Special Resolution passed at the Extraordinary General Meeting (EOGM) - Held that:- Special Resolution for conversion was passed by the Board of Directors of the Company on 24.08.2017 and thereafter, at the EOGM held on 30.08.2017, 6 (Six) Directors and 7 (Seven) Members of the Company had attended and unanimously approved the conversion resolution. The Special Resolution passed at the EOGM held on 30.08.2017 has been filed by the Company on 22.09.2017 through e-form MGT-14. Company has not received any objection either from its members, unsecured creditors or from any persons with regard to the proposed status of the Company; and that all the seven Members of the Company attended the EOGM on 30.08.2017 and approved the Special Resolution passed at the said Meeting. Since all the requisite statutory compliances having been fulfilled, the conversion of the status of the Company from “Public Limited” to “Private Limited” as per Special Resolution passed at the EOGM on 30.08.2017 is hereby approved in the interest of the Company and such change of status of the Company shall not cause any prejudice either to the members or the creditors of the petitioner Company.
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