Dear professional
I am seeking your technical insights on a specific conversion under the Companies Act, 2013.
We are exploring the possibility of converting a Section 8 company limited by guarantee into a Section 8 company limited by shares while maintaining its charitable status.
I have observed that Rule 39 of the Companies (Incorporation) Rules, 2014, deals specifically with the conversion of a Section 8 company into a company of another kind (i.e., a commercial entity). It does not appear to provide a mechanism for changing the liability structure while remaining a Section 8 entity.
Kindly give the alternative options available.