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It is possible to convert a public limited company back into a private limited company. This is done by individuals buying up a majority of the shares. Richard Branson did this several years ago with the Virgin Group. Why might Mike and Gita have wanted to do this with the Express Taxi and Bus plc?

Reduced risk of personal liability In a private limited company, you and any other shareholders are only liable for debts up to the value of your shares. That reduces the risk of having your personal assets seized to pay for the debts of the business if it fails.

Procedure for Private Limited Company Name Change Step 1: Board Resolution. ... Step 2: Check Company Name Availability. ... Step 3: Pass Special Resolution for Company Name Change. ... Step 4: Application for approval of Company Name Change. ... Step 5: Issuance of New Certificate of Incorporation. ... Step 6: Make Changes to MOA and AOA.

The company needs to conduct a Board meeting and pass a resolution for calling the EGM. In the EGM, the company needs to pass a Special Resolution for changing the registered office. Form MGT-14 needs to be filed with the ROC within 30 days of passing the Special Resolution to change the registered office.

A corporation can intimate a change in the Board of Directors by filing e-Form DIR-12 with the Registrar of Companies (ROC) within 30 days from the date the resolution for change in director is moved in the company meeting.

A public company can convert itself in to a private company by filing Form MGT-14 (Alteration of MOA and AOA) and then taking approval of Form INC-27.

What is the Procedure for Conversion into a Public Limited Company? Pass Board Resolution for conversion. Fix date, time & venue for conducting of Shareholder's meeting (Extra-ordinary General Meeting) Approve the Notice of EGM & authorization to Company Secretary/Director for issuance of the Notice.