Section 371 of CA 2013 : Section 371: Effect Of Registration Under This Part

CA 2013

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Explanation using Example

Imagine a partnership firm that has been operating successfully for several years and now wishes to expand and limit the liability of its partners. The partners decide to register the firm as a private limited company under the Companies Act, 2013. Once registered, the company's original partnership deed and any previous regulations the firm adhered to will be considered as part of the company's constitution, similar to its memorandum and articles of association.

For instance, if the partnership deed specified that decisions require a 75% majority, this would now function as the company's internal regulation. However, the company must also adopt the mandatory provisions of the Companies Act, 2013, and ensure compliance with them.

If the...

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