srinivass (CA Final) (2466 Points)
26 September 2011Plz give valuable suggestions
I have one doubt regarding Section 25 companies.
Which one is better in view of previeligies
section 25 Public company .
or
Section25 Private company.
Explain plz
Suresh Prasad
(www.aubsp.com)
(15630 Points)
Replied 26 September 2011
Where it is proved to the satisfaction of the Central Government that an association—
(a) is about to be formed as a limited company for promoting commerce, art, science, religion, charity or any other useful object, and
(b) intends to apply its profits, if any, or other income in promoting its objects, and to prohibit the payment of any dividend to its members,
the Central Government may by licence, direct that the association may be registered as a company with limited liability, without the addition to its name of the word “Limited” or the words “Private Limited”.
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