Checklist for a Private Limited Company
This query is : Resolved
12 November 2009
Can someone kindly provide me with a checklist on the various sections of Corporate Law that is applicable to a Private Limited Company?
12 November 2009
3(1)(iii)-- formation
12(1)-- No of subscribers
70(3)-- Prospectus not required
77(2)-- Assistance to other persons to purchase its own shares
81(3)-- Further issue ,right to members, not applicable
86--Shares with disproportionate voting rights can be issued
90--section 85 to 89 do not apply
111--Appeal against transfer restricted
149-- Commencement of business,minimum subscription, declaration etc, not applicable
165(10)-- statutory meeting, not required
171-186--General meetings, articles may provide otherwise.
198-- no ceiling on managerial remuneration
204-- Restriction of Place of profit, not applicable
220--P & L Inspection restricted to members only.
252-- Two directors needed
255,256,257-- Not applicable
259--Central government sanction, not required
262--casual vacancy/directors, no restriction
263--Appointment of director to be voted individually, not applicable
264--Consent to act as director, nne not file with ROC
266-- Appointment,advertisement,consent, share qualification, not applicable
269--Certain provision of appointment of WTO/MD , not applicable
270,274-- Time limit to take share qualification,not applicable
275-278-- Number of companies directorship, not applicable
283 Additional grounds for vacation can be provided
293-- Restriction on board's power,not applicable
295-- No restriction to loan to director
300(1)--Interested director can participate in discussion and voting
303-- D.O.B need not mention in register
309,310,311--Provision to remunerate MD, not applicable
316,317--Number of MD ship,not applicable
349,350-- Provisions not applicable
372A-- Inter co loan 7 investment, not applicable
386 t0 388--Appointment of manager, not applicable
409--Govt power to change board,not applicable
416--Contract with undisclosed principal company, not applicable.
12(1)-- No of subscribers
70(3)-- Prospectus not required
77(2)-- Assistance to other persons to purchase its own shares
81(3)-- Further issue ,right to members, not applicable
86--Shares with disproportionate voting rights can be issued
90--section 85 to 89 do not apply
111--Appeal against transfer restricted
149-- Commencement of business,minimum subscription, declaration etc, not applicable
165(10)-- statutory meeting, not required
171-186--General meetings, articles may provide otherwise.
198-- no ceiling on managerial remuneration
204-- Restriction of Place of profit, not applicable
220--P & L Inspection restricted to members only.
252-- Two directors needed
255,256,257-- Not applicable
259--Central government sanction, not required
262--casual vacancy/directors, no restriction
263--Appointment of director to be voted individually, not applicable
264--Consent to act as director, nne not file with ROC
266-- Appointment,advertisement,consent, share qualification, not applicable
269--Certain provision of appointment of WTO/MD , not applicable
270,274-- Time limit to take share qualification,not applicable
275-278-- Number of companies directorship, not applicable
283 Additional grounds for vacation can be provided
293-- Restriction on board's power,not applicable
295-- No restriction to loan to director
300(1)--Interested director can participate in discussion and voting
303-- D.O.B need not mention in register
309,310,311--Provision to remunerate MD, not applicable
316,317--Number of MD ship,not applicable
349,350-- Provisions not applicable
372A-- Inter co loan 7 investment, not applicable
386 t0 388--Appointment of manager, not applicable
409--Govt power to change board,not applicable
416--Contract with undisclosed principal company, not applicable.
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13 November 2009
thanks warrier ji. useful information.
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