Companies Act 2063

 

• Min. 7 share holder (no maximum limit) to establish public co., but not req. 7 member to reg another public co. by it’s parent public co.
• Min. 3 to Max. 11 BOD structure. If anyone female shareholder exists then in BOD female representative is must.
  
• OCR must registered co. within 7 days of application or reject with reason within 3 days if not registered within 7 days
• Use of digital signature applicable for application and document verification
• Co. can purchase, sale, hold FA or other assets as individual
• Shareholder liability is upto the shareholding limit of his/her.
• Private co. shareholder must not cross 101 shareholder
• Employee holding share of co. (issued by co. to it’s employee)
• Co. should affix pvt. Ltd. or ltd. as per co. in their name. However not necessary for non-profit organization.
• P. L cannot sell share, debenture in public manner
• Co. cannot open joint holder co. or private firm
• Non-profit organization cannot provide dividend or any other financial amount to it’s members or their family member
• Paid up capital of public limited co. must be minimum 1 Cr. Unless otherwise stated
• Co. involved in financial sector, stock related sector, mutual fund, pension fund co., telecom co having more than 5 cr. paid up capital. Co. registered under private firm for above listed must convert to public limited within 2 years of act (i.e. within 2065)
• Public co. can convert to private co. when shareholders less than 7 people, decreased paid up capital or not able to meet required paid up capital
• Public co. share price must quote min. Rs.50.00 or amount divisible by rs.10.00
• Allotted share must be provided to share holder within 3 months. But should not allot the share if it has not sold minimum 50% of total.
• Co. can not buy own share by self but can purchase from the amount that is reserved to pay bonus
• Minor can not be appointed as promoters
• Co. can held Annual General Meeting (21 days earlier notice should serve) and Special General Meeting (15 days earlier notice should serve). But 7 day notice for any halted meeting
• Co.’s directors must present in AGM, SGM. But can use video conferencing upon such any situation
• AGM within 6 months of FY end.