Consequences of default in complying with conditions constituting a company a private company.

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..... visions which, under clause (iii) of sub-section (1) of section 3, are required to be included in the articles of a company in order to constitute it a private company, but default is made in complying with any of those provisions, the company shall cease to be entitled to the privileges and exemptions conferred on private companies by or under this Act, and this Act shall apply to the company as .....

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..... (Amendment) Act, 1988, w.e.f. 31-5-1991. [2] Fees prescribed is Rs. 200. On notification of the commencement of the amendment, power will be transferred to the Central Government. [3] Substituted for "Company Law Board" by the Companies (Second Amendment) Act, 2002. w.e.f. a date yet to be notified. Earlier the quoted words substituted for Court by the Companies (Amendment) Act, 1988, w. .....

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