16 June 2012
Is Section 94 of Companies Act 1956 is applicable on Pvt Co. ? If Not then which section of the Companies Act 1956 is applicable for the alteration in authorized capital of the company ? Please explain in detail
16 June 2012
Dear Friend a private limited company is governed by its Articles of Association provided that provisions of AOA are not contrary to Companies Act, 1956. Section 94 of the Companies Act, 1956 is well applicable in case of Private Company also. You have to follow provisions for Alteration of Capital of pvt. company.
16 June 2012
dear sir the section says "A limited company having a share capital, may, if so authorised by its articles........." What does this mean..... is this to be read out as per the context of public ltd or any limited company
17 June 2012
Section 94 applicable to Pvt Ltd Companies also.
word Limited shall taken to include all Public and Private limited companies.
For your reference: If any particular section not applies to Pvt Ltd Companies, then it is specifically mentioned in that section that "Nothing contained in this section shall apply to Private Limited Companies", which is not so in the case of Section 94.
CAclubindia
