Procedural Differences & Exemptions: Private vs. Public Companies

S. No.

a) Persons who are in employment of the company

(Present employees);

b) Persons who have been formerly in the employment of the company & were members of the company and have continued to be members after the employment ceased.

(Past employees).

The letter of offer shall be dispatched at least 3 days before the opening of the issue.

a) Issue of circular to its members in Form DPT-1

b) Filing of DPT-1 to the registrar within 30 days from the date of Issue.

c) Maintenance of deposit repayment reserve.

d) Deposit repayment Non-Compliance certificate.

If the details are filed with the registrar in a specified manner.

a) Issue of circular to its members in Form DPT-1

b) Filing of DPT-1 to the registrar within 30 days from the date of Issue.

c) Maintenance of deposit repayment reserve.

d) Deposit repayment Non‑ Compliance certificate.

(Notice shall be dispatched at least 21 clear days before the GM if AOA doesn’t provide a higher / lesser limit.)

(Notice shall be dispatched at least 21 clear days before the GM.)

a) To make calls on unpaid shares;

b) To authorise Buy Back of securities;

c) To issue securities including debentures;

d) To borrow;

e) To invest Company’s funds;

f) To grant loans, give security;

g) To approve financial statements and Board Report;

h) To diversify the business;

i) To approve mergers & takeovers

a) To make calls on unpaid shares;

b) To authorise Buy Back of securities;

c) To issue securities
including debentures;

d) To borrow;

e) To invest Company’s funds;

f) To grant loans, give security;

g) To approve financialstatements and Board
Report;

h) To diversify the business; i) To approve mergers & takeovers;

(More than 1 director can be appointed via single resolution without holding a prior meeting.)

(A single resolution cannot be passed at a GM for appointment of 2 or more directors unless a proposal to move such motion has been agreed upon at a prior meeting without even a single vote casted against it.)

a) in whose share capital no other body corporate has invested any money;

b) if the borrowings of such company from banks or financial institutions or any Body corporate is less than twice of its paid-up share capital or fifty crore rupees, whichever is lower;

c) such a company has no default in repayment of such borrowings subsisting at the time of making
transactions under Sec 185.

(A related member can vote on resolutions in a GM.)

a) participate in a Board Meeting where a
resolution of his interest is passed if,

b) he discloses in interest in such BM.

a) Disclose the nature of his interest at a BM, and

b) Shall not participate in a BM where the resolution of his interest is being passed.

a) Paid up share capital equal /more than INR 10 Crore;

b) Turnover is equal/more than INR 100 Crore;

c) Aggregate of outstanding loans, debentures and deposits exceeds INR 50 Crore.

a) Paid up share capital equal /more than INR 10 Crore;

b) Turnover is equal/more than INR 100 Crore;

c) Aggregate of outstanding loans, debentures and deposits exceeds INR 50 Crore.

a) Paid up share capital equal
/more than INR 100 Crore;

b) Turnover is equal/more than INR 300 Crore;

a) Paid up share capital equal /more than INR 10 Crore;

b) Turnover is equal/more than INR 100 Crore;

c) Aggregate of outstanding loans, debentures and deposits exceeds INR 50 Crore.

a) Outstanding loans or borrowings from banks or public financial institutions are more than INR 100 Crore.

a) Paid up share capital equal /more than INR 50 Crore;

b) Turnover is equal/more than INR 150 Crore;

c) Outstanding loans or borrowings from banks or public financial institutions are more than INR 100 Crore.