Section 25 Company Formation Procedure Fees And Checklist
A company registered under the Companies Act, 1956 (the Act) with the liability of its members limited by guarantee and the one licensed under section 25 of the Act is a better choice so far as a legal form of organization is concerned in such cases. Section 25 also empowers the Central Government to exempt such a company from specific provisions of the Act. Further, if such a company is registered as a private company as defined in section 3 (i) (iii) of the Act (except regarding the restriction on the right of the members to transfer their shares since there may not be any shares), it will enjoy privileges and exemptions enjoyed by a private company....