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Reg sections not applicable to pvt cos

madhavi (hgas) (33 Points)

18 September 2009

Hello

Is there a list of sections under Companies Act, 1956, the provisions of which are not applicable to private companies available? Kindly post the same if available as this would help us in quickly classifying the scope of the sections.

Thanks

MADHU

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4 Replies

Arti (Jr Manager) (123 Points)
Replied 18 September 2009

You can find that in Munish Bhandari's Book for CA Final.

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 18 September 2009

Hi,

Some of the sections which are not applicable to a private company:

1. Provisions of further issue of capital section 81

2. Provisions of holding statutory meeting section 165,

3. Provisions of prospectus

4. Provisions of managerial remuneration section 309, 310, 311

5. Provisions of appointment of managerial personnel section 269

6. Provisions of retirement of director by rotation section 255 and 256

7. Section 170 contain certain exemption for pvt. Companies regarding meetings.

8. Section 274(1)(g)

9. A pvt . company is not required to obtain certificate of commencement of business Section 149

Regards

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 18 September 2009

Also find attach herewith the desired list:

Attached File : 34 list of exemptions to pvt co .doc downloaded: 1547 times

ASHU THAKUR (studend) (94 Points)
Replied 13 October 2012

PROVISIONS NOT APPLICABLE TO A PRIVATE LIMITED COMPANY

Section	Descripttion of the matter
77	Providing financial assistance for purchasing shares.
81	Further issue of shares to the existing shareholders.
85 to 90	Kind of share capital, voting rights, issue of shares with differential voting rights, etc.
111A	Appeal against refusal to register a transfer or transmission of shares.
149	Obtaining commencement of Business Certificate.
165	Holding statutory meeting and forwarding copy of the statutory report to members or to ROC.
170 to 186	Length of Notice for calling General Meeting, contents and manner of Service of Notices, Explanatory Statements, Quorum for meeting, Chairman of meeting, Restrictions of voting rights, etc.
192A	Passing of resolution by Postal Ballot.
198	Ceiling on overall managerial remuneration.
204	Restriction on appointment of any firm, body corporate to office or place of profit.
255	A proportion of directors to retire every year.
257	Giving of 14 days notice by a new candidate for office of directorship.
259	CG approval for increasing number of directors beyond 12.
263	Appointment of two or more persons as directors by a single resolution.
264	Consent to act as director to be filed with Registrar.
266	Restriction on appointment or advertisement of director as regards consent and qualification of shares.
268, 269	CG approval for amendment of any provision relating to appointment/reappointment of a whole-time director/director not liable to retire by rotation.
273	Holding of share qualification by director and acquiring qualification shares.
274(1)(g)	Default in repayment of deposit or payment of interest will not disqualify a director of a Private Company.
275, 278¹	Restriction on person becoming director of more than 15 companies.
292A	Formation of Audit Committee.
293	Restrictions on powers of board of directors in relation to certain acts.
295	Restriction on loans to directors, etc.
300¹	Restriction on interested directors from participating in the board proceedings and exercising their votes.
309, 310, 311	Payment of remuneration to the directors or increase in their remuneration.
316	Restricition on number of companies of which a person may be appointed managing director.
317	Restriction on period of appointment of managing director/manager for more than 5 years at a time.
349/350	Determination of net profit for remuneration of director.
370, 372	Restrictions on giving loans or guarantees to other companies or on making investment in the shares of the other companies (up to 30-10-1998).
372A	Restrictions on giving loans or guarantees to other companies or on making investment in the shares of the other companies (w.e.f. 31-10-1998).
409	Tribunal’s power to prevent change in the board of directors.