The following other steps are required to be taken for conversion of a private company into public company:
A prospectus or statement in lieu of prospectus is to be filed with the registrar of companies within 30 days after deletion of the restrictive clauses from the articles.
Change of name:
The name of the company should be changed by deletion of the word "Private" from its name if it forms a part of its name. But by virtue of the modification of clause (a) of sub-section (i) of section 13 of the act, in relation to its applicability to government companies, a public sector undertaking is exempted from using the word private as a part of its name even though it is a private limited company. In view of this it would not ordinarily be required to change the name of the company.
Increasing the number of members and directors:
If the number of members of the company is less than seven, steps should be taken to induct new shareholders so as to increase the number of members to seven, the minimum number statutorily required for a public company. Similarly, if the number of directors is less than three, steps should be taken to increase the number of directors to three, the minimum number of directors statutorily required for a public company.
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