Explain the key corporate changes that take place when a private company converts into a public company.

The provisions related to conversion of private company into public company are provided under section 18 (conversion of companies already registered) and 14 (alteration of articles) of the Companies Act, 2013 read with Rule 33 of Companies (Incorporation) Rules, 2014. When a private company converts into a public company, several structural and legal changes take place to align it with public company requirements: Appropriate steps should be taken to increase the number of members to at least seven, if the company has less than seven members. Name clause of Memorandum needs to be amended to exclude the word 'Private'. The Articles of Association should be amended to remove the restrictive provisions applicable to the Private Company. If the number of directors of the Company is two, the number of directors should be increased to at least three. Company has not defaulted in filing of Annual Returns or financial Statement due for filing with the Registrar.