POST COMPLIANCES OF FIRM TO PVT LTD CONVERSION

[Shiva Kumar K]

Dear all,

Below are my queries:

1. INC-20A - is it required to transfer members funds freshly into a new bank account of private limited? or anyhow firm balance will be transferred, is that enough ?

2. ADT-1 - appointment shall be done same as newly incorporated company, i.e holding for office till 1st AGM ?

3. other than above and share certificates - what are the post secretarial compliances ? 

A quick response would be appreciated.

Thanks in advance.

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Thanks and Regards,

CS Shiva Kumar K

Ph no: +91 9900891301

[CS Priya Nandwana]

1. INC-20A - is it required to transfer members funds freshly into a new bank account of private limited? or anyhow firm balance will be transferred, is that enough - 

A clarification letter needs to be attached stating that no fresh funds have been transferred to the Company’s bank account after conversion, and that the existing balance (if any) continues post conversion. The clarification letter will include all relevant details for compliance purposes. AND PLEASE ATTACHED THE NEW BANK STATEMENT OF THE COMPANY.

2. ADT-1 - appointment shall be done same as newly incorporated company, i.e holding for office till 1st AGM -

Conduct the Board Meeting for appointment of the Auditor, and File Form ADT-1 within 15 days from the date of the Board Meeting.

These two are the mandatory POST CONVERSION COMPLIANCES.

[Shiva Kumar K]

Thank you so much for your inputs. 

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[puneet shah]

Whether ADT 1 is to be filled in 15 days from the Board meeting or from the date of appointment in case of a public company where the auditor is appointed by C&AG

To view this discussion visit https://groups.google.com/d/msgid/csmysore/CALz9xqhLZeDT6wCav_%3DLC3mRc29TEu1-w%3DndiYMK-R7%2B8otKTQ%40mail.gmail.com.

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PUNEET SHAH

B.com(H) , CS, CA (Final Gr.1), CWA

Dy.  Manager (Finance), Central Mine Planning and Design Institute Limited.

M.No. 8789437395