Section 67(3) of companies act 1956 Confusion worst confounded

By:

CHANDRATRE, K R

Material type:

Mixed materialsPublication details: 2014Description: 130-133Subject(s):

COMPANY LAW

NLM classification:

346.54066

In: CHARTERED SECRETARYMSummary: There is an impression in the corporate sector and with professionals that an unlisted company can never have more than 50 members or debenture holders without making a public offer, which is not and cannot be the intention of the law. The restriction on the number of members (50) is only for private companies under section 3 of the companies act.

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Holdings
Item type	Current library	Call number	Vol info	Status	Date due	Barcode
Periodicals/Magazines	SSCBS Library		44/2	Available		P15293

There is an impression in the corporate sector and with professionals that an unlisted company can never have more than 50 members or debenture holders without making a public offer, which is not and cannot be the intention of the law. The restriction on the number of members (50) is only for private companies under section 3 of the companies act.

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