I am given to understand that with the amended company act, a private limited company can add only 200 members in a financial year. I am not sure whether this is right. can somebody explain this please
vinod
2 Replies
P C Agrawal
(Registered independent director Past Ch)
(8229 Points)
Replied 17 June 2014
Total number of members of a private company other than OPC cannot exceed 200. Refer Sec.2(68)(ii) of the Act.
Vinod Chandrasekharan
(a)
(29 Points)
Replied 17 June 2014
Thanks. But the issue is as per the private placement rules only 200 persons can be added. If that is the case, what will happen in case of Producer companies regd. under Sec. 581 B. They are treated as Pvt. ltd companies but may have to add more than 200 persons or register with more than 200 persons. How does it reconcile. Can you please explain.
vinod
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