As per section 44(1) of the companies Act 1956, a Private company may be converted as a Public Company. This can be done by alteration of the articles of the company for omitting the four conditions specified in s 3(1) (iii), which constitute the company as a private company.
Brief procedure for Conversion of Private to Public Company • Convene the Board Meeting and propose the new set of AOA is to be substituted for the existing articles, the special resolution shall state accordingly & fix date, time and venue of General Meeting.
• Hold the General Meeting and propose the Special Resolutions.
• Form 23 has to be filed with the copy of special resolution, explanatory statement and Memorandum and Articles (Altered).
• Form 5 has to be filed with RoC for Increase the Authorised share capital.
• Form 1B has to be filed with RoC for including the word “Public” in the name of the Company.
• Form 62 has to be filed with RoC for Statement in lieu of prospectus
• Fresh certificate of incorporation will be issued by RoC.
• Make the changes in the name of MOA, AOA and everywhere the name appears.
• Increase the number of members to minimum seven and directors to minimum three.
• To complete entire process it will take approximately 30 days.
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