No. of Members in a company

[Santhosh Kumar]

Dear Friends,

A company has not amended the AOA as per the companies Act.1956, whereas the maximum number of members is fixed at 50..  Now the company wants to issue shares to about 90 persons.  Whether any amendment of AOA is required for making the issue.  Or whether te company can go for issue without the amendment stating that the Companies Act, 2013 is applicable.

Also please let me know whether there is any restriction on number of allottees, if shares are issued to 90 persons at a time on 31.03.2014.

Please clarify.

With regards

Santhosh PP.

[sravanthi g]

As on 31.03.2014, Private company can have only 50 persons. So it cannot be done. 

If you want to do it after 31.03.2014, better to amend AoA and do it.

Thanks & Regards,

CS Sravanthi Raviteja

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[R. Sathishkumar Sathishkumar]

CA can over right the AOA & MOA.better you alter the same immediately.