Articles of Association of Deemed public Company

[Roshan Dave]

Dear All,

 

Can anyone send me the Articles of Association of Deemed public Company.

 

please send me the same as soon as possible

 

 

Regards,

Roshan Dave

[Neha Gore]

there is no such concept of Deemed public company, u can have private companies articles

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[Roshan Dave]

as you are right but the things is that if i adopt the private company articles then there are many things which a private company which is a subsidary of listed Company can't do.

[MVK MVK]

Dear Roshan,

Let us analyse your query conceptually:

1. Once a company is incorporated as private company, it will stay as private company, unless converted into public company.

2. The fact that such private company is a subsidiary of a public company, does not alter it's status of private company.

3. Now, there are many provisions in the Companies Act 1956 which are applicable to public company and private companies subsidiary of public company.

4. By virtue of application of these provisions also, a private company's status is not altered. The Act just adds additional compliance to be done by a Pvt Co. subsidiary of pub. co.

5. It is AOA which primarily determines whether a company is public or pvt. If there is insertion of Section 3(1)(iii) in an AOA, then immediately such company is considered as pvt co. If there is no insertion of Section 3(1)(iii), then such company is a public company.

6. Now, as far as other provisions of AOA is concerned, the company (whether public or private) is free to write anything (legally).

7. While writing so, a pvt company may choose to add any such provisions applicable to a public company (in addition to and subject to Section 3(1)(iii)).

8. More over, for pvt companies Table A does not apply automatically and hence, it is very flexible.

Hence, in your case you can draft your Pvt company's article flexibly  subject to Section 3(1)(iii). By doing so you are not altering its status or violating any law.

Member's views solicited.

M V K & Associates

Practicing Company Secretaries

Bangalore

[Roshan Dave]

Dear Sir,

 

Thanks for the wpderful explanation. It has cleared my all the concepts related to such type of Company.

 

Regards,

Roshan Dave