Description

ARTICLES OF ASSOCIATION OF A PRIVATE COMPANY

This is a "Readymade Format for Article of Assiciation of a Private Company ".

Legally required caluses are already in agreement Format in addition to, if is required, then you can add or remove the conditions.

n Article of Association of a private company, as per the Companies Act, 2013, is a legal document that sets out the internal regulations and rules governing the management and administration of the company. It lays down the rights, powers, and duties of the shareholders, directors, and other officers of the company.

The Articles of Association of a private company typically include the following key points:

• The name and registered office of the company
• The objects and powers of the company
• The capital structure of the company, including the number of shares, the face value of the shares, and the rights attached to them
• The rights, powers, and duties of the shareholders, including the rights to vote, appoint directors, and receive dividends
• The rights, powers, and duties of the directors, including the appointment and removal of directors, and the quorum and procedure for meetings of the Board of Directors
• The rights, powers, and duties of the company secretary and other officers
• The procedure for calling and conducting general meetings of the shareholders
• The rules for the transfer and transmission of shares
• The provisions for alteration of the Articles of Association

The key feature of the private company as per Companies Act, 2013 is that the number of members are limited to 200. They do not have to file their financial statement to the Registrar of Companies (ROC) and can also restrict the right to transfer shares.

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