Private To Public
Section 18 of the Companies Act, 2013 allows an existing Company to convert itself as a Company of other class by altering its memorandum and articles of association in the manner prescribed in Chapter II of the Companies Act 2013. Section 13 provides for alteration of Memorandum of Association whereas Section 14 provides for alteration of Articles of Association.
Articles of a Private Company usually contains certain restrictions so during conversion process it is advisable to adopt a new set of articles for resulting public company in order to avoid any future administrative inconvenience. You may find various clauses like quorum for General Meeting, Number of Directors etc. which needs to be redrafted again as per Public company. So, it is, advisable to adopt a new set of Articles applicable to a public company.
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