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Public Companies- Mahe

Public Companies- Mahe

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Published by mahe202020

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Published by: mahe202020 on Apr 02, 2009
Copyright:Attribution Non-commercial

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06/16/2009

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S.MAHENDRAN07MBA059
 
PUBLIC COMPANY 
According to section 3(i)(iv) of the companiesact, 1956 which was amended in 2000, a publiccompany means a company which(i) is not a private company(ii) has a minimum paid-up capital of five lakhrupees(iii) is a private company which is a subsidiaryof a public company
 
CHARACTERISTICS OF A PUBLICCOMPANY
1.Number of members:
minimum of seven
Maximum is unlimited2. Paid-up capital:
Should have a minimum paid-upcapital of 5 lakhs3. Restriction on name:
A public company should have the word‘Limited’4. Commencement of business:
only after certificate of commencement of business5. Invitation to public:
by issuing prospectus may invite public tosubscribe to its shares

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