State the rules relating to conversion of a public company into a private company.

According to section 232-

1. A public company, having not more than fifty members at the time of conversion, may be converted into a private one by passing a special resolution altering its articles so as to exclude provisions if any, in the articles of association applicable to public company and include therein provisions applicable to a private company.

2. lf the company has secured creditors, their written consent shall have to be obtained before passing a resolution as per provision of sub section (l) and the shares enlisted with the Stock Exchange shall have to be de-listed.