Gaurav Kumar (Student CA Final ) (27 Points)
18 June 2016Respected Sir
I want to know whether a proprietary business can use the term "(I) Pvt Ltd" in its name.
Thanks in advance
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 18 June 2016
Not at all Sir. Refer Sec.453 of Companies Act 2013 for the consequences.
CS Arjun Rajagopal
(B.com, ACS)
(1056 Points)
Replied 18 June 2016
| Originally posted by : Gaurav Kumar | ||
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Respected Sir I want to know whether a properiotry business can use the term " (I) Pvt Ltd" in its name. Thanks in advance |
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Agree with Agarwal Sir. Section 453 is reproduced herewith for your referemce
If any person or persons trade or carry on business under any name or title, of
which the word “Limited” or the words “Private Limited” or any contraction or imitation
thereof is or are the last word or words, that person or each of those persons shall, unless
duly incorporated with limited liability, or unless duly incorporated as a private company
with limited liability, as the case may be, punishable with fine which shall not be less than five hundred rupees but may extend to two thousand rupees for every day for which that name ortitle has been used
Jatin Bajaj
(CS)
(2930 Points)
Replied 18 June 2016
Yes, agreed with the Respected members.
According to section 453 of companies Act 2013, if any person carry on business under any name or title of which the word Limited or the Words Private Limited, shall be punishable with the fine of Rupees 500 rupees but extend upto 2000 rupees for everyday for which the name or title has been used.
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