MOA - Private Company Article

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This query is : Resolved

Vignesh (Querist)

23 April 2010 Dear Sir/Madam,

Our's is a Pvt. Co. incorporated in 1995 with Article 3 of AOA having the following points (typed in short)-

1. rgt to transfer shr restricted.
2. no. of members
3. No invit o public to subscrd shrs

My Query-
1. Is it compulsory to incorporate the points following in the Article or is it recommendary.

4. mini pu cap 1 lac
5. restrct invi to pub depo to public.

I came to understand that incorporating these two wont need articles to be amended by a Gen. Meeting.

Kindly clarify?

Regards,
Vignesh J

Rasesh

Rasesh (Expert)

23 April 2010 The company in any case cannot invite public deposits. The min. paid up cap has to be 1 lacs. If you want to amend the AOA, it has to be essentially through the GM.

Ankur Garg

Ankur Garg (Expert)

23 April 2010 All the 5 points mentioned above are mandatory for a private company. Adherence of these conditions by a private co. is mandatory as desired by section 3(1)(iii).

As these conditions are mandatory to follow by nature so specific mention of these conditions in AOA is not required.

For alteration of AOA you have to pass SR in GM and file form 23 within 30 days of passing SR.

Regards

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