Section 25 Company

This query is : Resolved

Share Report Follow Query Ask a Query

deepa

deepa (Querist)
Follow

02 December 2010 A section 25 company wants to change its members. what is the procedure. please suggest.

Ajay Mishra

Ajay Mishra (Expert)
Follow

04 December 2010 The procedure are same as applicable to public or private company.

• MEMBERSHIP IN SECTION 25
Though a partnership firm is not a legal person like a body corporate, section 25(4) of this section enable the firm to become member of any association registered under this section such as chamber of commerce or club or charitable institution and enjoy all such privileges as are enjoyed by bodies corporate which become members of such associations. Membership of such firm shall cease upon dissolution of the firm. However, the partners of the firm may continue to be the members of such company in their individual capacity.
It is advisable that the firm should obtain membership in the individual name of the partners as they may agree.
• SHARE CAPITAL
As per the provision of section 3 of the Companies Act, 1956, a private company is required to have a minimum paid-up capital of Rs. 1Lakh and Public Company is required to have minimum share capital of Rs. 5 Lakh. However section 25 companies have been exempted from this requirement regarding minimum share capital by virtu of sub-section (6) inserted by Companies Amendment Act of 2000. As such they can be registered even if they have share capital less than the statutory minimum.

Best Regards

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Nithish Kothari

ANUPAMA L KANT

Fahima Malik

velichety.l.narasimharao

T.N.Reddy

Subscribe Now

Section 25 Company

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA