A pvt. company Subsidiary of Limited company

This query is : Resolved

Raj (Querist)
Follow

01 August 2007 As per Sec. 3 a pvt.company which is the subsidiary of a Limited company also covers under in same ambit i.e means pvt.co. also a public co. . In such a case minimum how many members required for that Pvt.co. whther 2 or 7.

& what about other compliance like a public co.

CA Mani

CA Mani (Expert)
Follow

02 August 2007 Sec.3.Definitions of company, existing company, Private company and public company.—
1) In this Act, unless the context
otherwise requires, the expressions "company", "existing company", "private company" and
"public company", shall, subject to
the provisions of sub-section (2), have the meanings specified below :—
(i) "company" means a company formed and registered under this Act or an existing company as
defined in clause (ii):
(ii) "existing company" means a company formed and registered under any of the previous
companies laws specified below:—
(a) any Act or Acts relating to companies in force before the Indian Companies Act, 1866 (10 of
1866) and repealed by that
Act;
(b) the Indian Companies Act, 1866 (1006 1966);
(c) the Indian Companies Act, 1882 ( 6 of 1882);
(d) the Indian Companies Act, 1913 (7 of 1913);
(e) the Registration of Transferred Companies Ordinance, 1942 (54 of 1942); and
(f) any law corresponding to any of the Act or the Ordinance aforesaid and in force in the merged
territories or in a Part B Sate,
or any part thereof, before the extension thereto of the Indian Companies Act, 1913( 7 of 1913);
(iii) "private company" means a company which, by its articles,—
(a) restricts the right to transfer its shares, if any;
(b) limits the number of its members to fifty not including —
(i) persons who are in the employment of the company, and
(ii) 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; and
(c) prohibits any invitation to the public to subscribe for any shares in, or debentures of, the
company;
Provided that where two or more persons hold one or more shares in a company jointly, they
shall, for the purposes of this
definition, be treated as a single member;
(iv) "public company" means a company which is not a private company.
(2) Unless the context otherwise requires, the following companies shall not be included within
the scope of any of the
expressions defined in clauses (i) to (iv) of sub-section (1), and such companies shall be deemed,
for the purposes of this Act, to
have been formed and registered outside India:—
(a) a company the registered officer whereof is in Burma, Aden or Pakistan and which
immediately before the separation of that
country from India was a company as defined in clause (i) of sub-section (1);
(b) a company the registered office whereof is in the State of Jammu and Kashmir and which
immediately before the 26th day of
January, 1950, was a company as defined in clause (i) aforesaid.

CA Mani

CA Mani (Expert)
Follow

02 August 2007 Sec.3 is not defining like such

Upgrade to CAclubindia Pro. Subscribe Now!

Raj

Raj (Querist)
Follow

02 August 2007 I recommend for Ramaya comany law book, where you may find this

Raj

Raj (Querist)
Follow

02 August 2007 A pvt .co .which is susidiary of limited company there how many minimum memeber will require for the registration.

CA Mani

CA Mani (Expert)
Follow

02 August 2007 2 only

CA Mani

CA Mani (Expert)
Follow

02 August 2007 See the process yar.

First company have to estabish as Pvt Co., Member ship required is 2.

After that only we will see whether it is pvt co or deemed pvt co.