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sec. 81

This query is : Resolved 
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(Querist)
29 November 2010 does sec. applies to private company?
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udit sharma

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udit sharma (Expert)
29 November 2010 No not applicable to an Independent Private Company....

God Bless

Udit Sharma
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
29 November 2010 Agree with Uditji,

Sec 81(3) clearly defines
Nothing in this section shall apply-

(a) to a private company; or

(b) to the increase of the subscribed capital of a public company caused by the exercise of an option attached to debentures issued or loans raised by the company-

(i) to convert such debentures or loans into shares in the company, or

(ii) to subscribe for shares in the company:
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