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Conversion to a Private Company

Querist : Anonymous (Querist) 12 January 2011 This query is : Resolved 
On applying for converstion from a public company to a private company,cofirmation of substantial creditors is required.What is the meanibg of substantial creditors ?

On conversion,can a private company continue to have a public company as its subsidiary ?
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Advocate. Arunagiri (Expert) 13 January 2011
Under which section you applied for conversion?
Querist : Anonymous (Querist) 13 January 2011
u/s 3 (1)(iii) and 31 of the Companies Act.

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