A public company having share capital and membership within the limits imposed upon private companies can be converted into a private company by complying with following requirements:

• Alteration of its articles thereby adding the four restrictions of a private company, by passing a special resolution and obtaining Central Government Approval as per Section 31 and

• Changing its name thereby adding word ‘private’ in its name, by passing a Special Resolution as per section 21.

It should be noted that although the company becomes a private company as soon as the approval of Central Government for the conversion under section 31 is received but the change in its name become effective only on the issue of fresh certificate of incorporation by the Registrar in the changed name.