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Private companies in India - Definition

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Changes to the legal description of what constitutes a 'Private Company in the context of Indian Law, especially the Companies Act, 1956 / 2013 and the Companies Amendment Act, 2015.

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Private companies in India - Definition

  1. 1. Private Companies in India - Definition Companies Act, 1956 Companies Act, 2013 Amendment Act, 2015 FOREDUCATIONAL/REFERENCE USE©SPGUPTA,FCA,DISA,FAFD
  2. 2. Private Companies Definition Companies Act, 1956 Companies Act, 2013 1st Amendment 2015 a company which has a minimum paid-up capital    of one lakh rupees or such higher paid-up capital    as may be prescribed    by is articles:    restricts the right to transfer its shares, if any;    limits the number of its members to fifty    FOREDUCATIONAL/REFERENCE USE©SPGUPTA,FCA,DISA,FAFD
  3. 3. Private Companies Definition Companies Act, 1956 Companies Act, 2013 1st Amendment 2015 except in case of One Person Company, limits the number of its members to two hundred    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;    FOREDUCATIONAL/REFERENCE USE©SPGUPTA,FCA,DISA,FAFD
  4. 4. Private Companies Definition Companies Act, 1956 Companies Act, 2013 1st Amendment 2015 prohibits any invitation to the public to subscribe for    any shares in, or debentures of, the company    any securities of the company    prohibits any invitation or acceptance of deposits from persons other than its members, directors or their relatives    FOREDUCATIONAL/REFERENCE USE©SPGUPTA,FCA,DISA,FAFD
  5. 5. Thanks For queries / concerns mail : gupta.satya.prakash@icai.org FOREDUCATIONAL/REFERENCE USE©SPGUPTA,FCA,DISA,FAFD

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