As per Section 14 of Indian Companies Act 2013 a company can alter its Articles as provided in Section 61 of the Act by resolution and complying with the provisions in the Act. Provisions in the Indian Companies Act 2013 regarding Alteration of Articles of the company is as under.
(1) Subject to the provisions of this Act and the conditions
contained in its memorandum, if any, a company may, by a special
resolution, alter its articles including alterations having the
effect of conversion of--
(a) a private company into a public company; or
(b) a public company into a private company:
Provided that where a company being a private company alters its
articles in such a manner that they no longer include the
restrictions and limitations which are required to be included in
the articles of a private company under this Act, the company shall,
as from the date of such alteration, cease to be a private company:
1[Provided further that any alteration having the effect of
conversion of a public company into a private company shall not
valid unless it its approved by an order of the Central Government
on an application made in such form and manner as may be prescribed:
Provided also that any application pending before the Tribunal, as
on the date of commencement of the Companies (amendment) Act, 2019,
shall be disposed of by the Tribunal in accordance with the
provisions applicable to it before such commencement.]
(2) Every alteration of the articles under this section and a copy
of the order of the 2[Central Government] approving the alteration
as per sub-section (1) shall be filed with the Registrar, together
with a printed copy of the altered articles, within a period of
fifteen days in such manner as may be prescribed, who shall register
the same.
(3) Any alteration of the articles registered under sub-section (2)
shall, subject to the provisions of this Act, be valid as if it were
originally in the articles.
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1. Subs. by Act 22 of 2019, s. 5, for the Proviso (w.e.f. 2-11-2018).
2. Subs. by s. 5, ibid., for "Tribunal" (w.e.f. 2-11-2018).