Can a AOA of pvt co contain a article that section 101 to 107 and 109 will not apply to company? as exemption is provided to pvt company if contrary provision is there in AOA
3 Replies
CS Rahul Kabra
(CS)
(141 Points)
Replied 19 June 2015
The exemption Notifacation has not been published in the Gazette yet. I think a Pvt Company is not exempted from these provisions unless and until the Exemption Notification gets published in the Gazette. Thus a Pvt Company may incorporate a clasue for availing exemptions of Section 101 to 107 and 109 after publishing the Notification in the Gazette.
ACS Anjali Jain
(SERVICE - CS)
(472 Points)
Replied 19 June 2015
Yes I know its not published yet but once this get notified then can the article be inserted in the AOA that these section will not apply
CS Rahul Kabra
(CS)
(141 Points)
Replied 19 June 2015
Yes, you can have a clause in Articles stating that these Sections are not applicable to the company. However, it is suggested that you should incorporate clause(s) in the AOA relating to some of these important sections, for eg. provisions regarding to Notice, Quorum, Proxies etc. as per the requirement.
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