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Section 14:- Alteration in Articles

✓ A company may alter it's Articles by passing a special resolution and subject to Provisions, including having an effect of change in type of company i.e Public company to private company Private company to public Company.

• Company being a private company (Conversion of Pvt. To public) alters it's articles in such manner that they no longer includes restriction and limitations° which are required to be included in the articles of a private company as per the act.

 • conversion of public company to private company shall not be valid unless it is approved by an order of Central government/ Regional Director, in the manner as may be prescribed.

✓ Procedural Aspects

• Every Alteration in Articles and certified copy of order  by Central government, approving the alteration (where required), shall be filed with the Registrar (ROC) along with the copy of updated articles within a period of 15 days in a manner as may be prescribed.

°Restrictions and limitations:- examples

• Restriction in limit of number of members in company

• Restriction in public offer

• Restriction in min number of Directors

• Others

Related sections:- 10, 15 to 17, 

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By:- CS Saheb Dumbwani

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