New company foramtion query

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Manager
30 Points Posted on 07 November 2013

What we mean by this query: It has  been raised while filing form 1,18 and 32 for formation of new company:

"AS PER MINISTRY CIRCULAR NO. 16/2013 CLARIFICATION ON SECTION 98 SHOULD BE COMLIANCED AS PER NOTIFICATION DATED 12-09-2013 NEW COMPANY BILL-2012"

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On 07 November 2013 at 12:08 Report
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CHARTERED ACCOUNTANT
952 Points Posted on 07 November 2013

Hi,

the definition of p ltd company was changes as follows

“private company” means a company having a minimum paid-up share
capital of one lakh rupees or such higher paid-up share capital as may be prescribed,
and which by its articles,—
(i) restricts the right to transfer its shares;
(ii) except in case of One Person Company, limits the number of its
members to two hundred:
Provided that where two or more persons hold one or more shares in a
company jointly, they shall, for the purposes of this clause, be treated as a single
member:
Provided further that—
(A) persons who are in the employment of the company; and
(B) persons who, having been formerly in the employment of the company,
were members of the company while in that employment and have continued to
be members after the employment ceased,
shall not be included in the number of members; and
(iii) prohibits any invitation to the public to subscribe for any securities of
the company;
likewise you may gothrough the new act 
1 Reply
On 07 November 2013 at 13:37
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Manager
30 Points Posted on 07 November 2013

Thanks for guidance.

 

Reply
On 07 November 2013 at 19:39

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