Here, we are going to see the privileges and exemptions which can be enjoyed by the private company. The companies act, 1956, confers certain privileges or concession to private companies when compared to public companies.
Central government sanction is not required in the case of increasing the directors above 12 or the number which is fixed by the articles of association.
While passing the resolution for electing the directors, a single resolution is enough to appoint all directors.
Consent to act as a director need not be filed with the registrar.
Central government sanction is not required in the case of modifying the provisions related to appointment of directors, whether its whole time or part time.
There are no certain restrictions on the power of Board of directors and no prohibition against loans to directors.
A method of determining the net profits and ascertainment of depreciation do not apply.
Provisions as to kinds of voting rights, share capital, an issue of shares with disproportionate rights, termination of disproportionate excessive rights.
Date of birth need not mention in the register of the directors.
Managing director need not be appointed more than 5 years.
There is no restriction on investments or making of loans or guarantee.
The Central government cannot exercise its powers to prevent the change in the board of directors which may affect the company prejudicially.
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