The main reasons for converting a public company to a Private Limited Company in India are simplified compliance, increased flexibility, confidentiality, and lower cost.
A public company must have a minimum of two shareholders to be eligible for conversion to a Private Limited Company.
The conversion must be approved by a resolution passed by the shareholders of the public company.
The public company must have a paid-up capital of at least the minimum amount specified by the jurisdiction in which it is located.
The public company must not be in default with regard to any of its obligations under the Companies Act or other relevant regulations.
The public company must be in compliance with all relevant regulations, including those related to the filing of annual financial statements and tax returns.
