law: Companies Act, 1956
  Sec 43    -    
  
  Consequences of default in complying with conditions constituting a company a
  
  private company.
  Where the articles of a company include the provisions which,
  
  under clause (iii) of sub-section (1) of section 3, are required to be included
  
  in the articles of a company in order to constitute it a private company, but
  
  default is made in complying with any of those provisions, the company shall
  
  cease to be entitled to the privileges and exemptions conferred on private
  
  companies by or under this Act, and this Act shall apply to the company as if
  
  it were not a private company:
  Provided  that the Company Law Board, on being
  
  satisfied that the failure to comply with the conditions was accidental or due
  
  to inadvertence or to some other sufficient cause, or that on other grounds it
  
  is just and equitable to grant relief, may, on the application of the company
  
  or any other person interested and no such terms and conditions as seem to the
  
  Company Law Board just and expedient, order that the company be relieved from
  
  such consequences as aforesaid.