Conversion from Public-Co. to Privet-Co. allowed as no objection was raised against such conversion

COMPANY LAW : Where petitioner passed a resolution for conversion of Public Limited Company into Private Limited Company, in view of fact that petitioner company had no secured and unsecured creditors and, moveover, notice of conversion had been given in local newspapers but no objection was received from any party, petition seeking approval of Tribunal for conversion of company from Public Limited to Private Limited Company, was to be allowed

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