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Cancellation of lincence of section 25 company

khusboo (Company Secretary) (90 Points)

09 May 2012

Dear Members

Can anybody let me know if any section 25 Company is not doing its business as per its object clause. To which authority can we file complaint for cancellation of its licence.

Thanks in advance

Khusboo

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2 Replies

Arniv Sharda (CA Final) (3006 Points)
Replied 09 May 2012

the central govt can cancel the license if co is not working according to its objects

Aditya Soni (CS Final Student Trainee) (727 Points)
Replied 09 May 2012

Cancellation of Registration
The Registrar may cancel the registration of any Society where he is satisfied:
(i) that office of the Society has ceased to be in the State of the registration or change
of office has occurred from the State of registration to any other State, or
(ii) that the activities of the Society are subversive to the objects of the Society, or
(iii) the Society is carrying on any unlawful activities or has allowed any unlawful
activity to be carried on within any premises under the control of the Society, or
(iv) the registered Society has contravened any provisions of the Act or the rules, or
(v) the registered Society is insolvent or must necessarily become so, or
(vi) the business of such Society is conducted fraudulently or not in accordance with
bylaws or the objects specified in the memorandum filed with the Registrar.
The provisions relating to ordering cancellation of society apply to following States only
and appear in: Section 23 of Bihar (amendment) Act, Section 27 of Karnataka Act,
Section 22 of Pondicherry (amendment) Act, Sections 37 & 38 of Tamil Nadu Act,
Section 34 (2) of Madhya Pradesh Act, and, Section 26 of West Bengal Act.