Ministry circular no.15 of 2013 dated 13.09.2013

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This query is : Resolved

shamim (Querist)

10 October 2013 Dear expert
I have filed the form1,18 & 32 for incorporation of new private limited company and now it is in resubmission for"Required resubmission, Inserting of defination cause 68 of section 2 of Companies Act,2013 of private company in AOA proposed company as per Ministry circular No.15 of 2013 dated 13.09.2013", currently the definition of private limited company in my AOA is as under:THE COMPANY IS A PRIVATE COMPANY WITHIN THE MEANING OF SECTION 3(1)(III) OF THE
COMPANIES ACT, 1956 AND ACCORDINGLY:
a. The right to transfer shares is restricted in a manner hereinafter prescribed.
b. The number of members of the Company (exclusive of persons who are
in the employment of the Company; and persons who having been
formerly in the employment of the Company, were members of the
Company while in that employment and have continued to be members
after the employment ceased) shall be limited to fifty. Provided that
where two or more persons hold one or more shares in the Company
jointly they shall for the purpose of this Article be treated as a single
member.
c. Any invitations to the public to subscribe for any shares in, or debentures of the
Company is prohibited.
d. Any invitation or acceptance of deposits from persons other than members,
directors or their relatives is prohibited

So now what changes required in this definition now as per new circular