Corporate law

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 October 2013 Dear Sir,
I wish to clarify a doubt regarding Corporate Law.
What is the difference between Sec. 2(68) & Sec. 3 (1) iii of the companies Act.?

Ajay Mishra

Ajay Mishra (Expert)
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11 October 2013 Hi

Two major differences:

First, it given the maximum number of director up to 200 which was up to 50 in old companies Act, 1956.

Secondly, in new Companies Act, the definition has removed the sub clause of "acceptance of deposit from its members, director or their relative".

It means the provisions of acceptance of deposit will also applicable on private limited company.

Querist : Anonymous

Querist : Anonymous (Querist)

11 October 2013 Thank you so much.

Ajay Mishra

Ajay Mishra (Expert)
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11 October 2013 My Pleasure..........

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