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Bar News Acts League

The Maharashtra Non-trading Corporations Act

Act ID: 1959

The Maharashtra Non-trading Corporations Act

"An Act to provide for the incorporation, regulation and winding up of non-trading corporations whose objects are confined to the State of Bombay."

Table of Contents

96 Sections

Ch.

Sections

S.1Short title, extent and commencement S.2Definitions S.3Registrar and other officers S.4Act to override memorandum, articles, etc S.5Mode of forming corporations S.6Requirements with respect to memorandum S.7Alteration of memorandum S.8Articles prescribing regulations for corporations S.9Alteration of articles S.10Alteration of memorandum and articles to be registered S.11Corporations not to be registered with undesirable names S.12Change of name by corporations S.13Rectification of name of corporations S.14Registration of change of name and effect thereof S.15Registration of memorandum and articles S.16Effect of registration S.17Conclusiveness of certificate of incorporation S.18Effect of registration of memorandum and articles S.19Effect of alteration in memorandum or articles S.20Amalgamation or division of corporations S.21Register of members S.22Power of Registrar to rectify register of members S.23Directors S.24General powers of Board S.25Restrictions on powers of Board S.26Annual general meeting S.27Power of State Government to call annual general meeting S.28Registration of certain resolutions S.29Minutes of proceedings of general meetings and of Board and other meetings S.30Minutes to be evidence S.31Presumptions to be drawn where minutes duly drawn and signed S.32Inspection of minutes books of general meetings S.33Books of accounts to be kept by corporations S.34Annual accounts and balance sheet S.35Right of members to copies of balance sheet and auditors' report S.36Three copies of balance sheet, etc. to be filed with Registrar S.37Appointment of auditors S.38Powers and duties of auditors S.39Form of contracts S.40Investment of corporation to be held in its own name S.41Power for corporations to refer matters to arbitration S.42Modes of winding up S.43Circumstances in which corporation may be wound up voluntarily S.44Effect of voluntary winding up on status of corporation S.45Declaration of solvency in case of proposal to wind up voluntarily S.46Corporation to appoint and fix remuneration of liquidators S.47Board's powers to cease on appointment of liquidator S.48Powers and duties of liquidator S.49Final meeting and dissolution S.50Winding up by Registrar S.51Cancellation of registration S.52Power of Registrar to assess damage against delinquent promoters, etc S.53Bar of suit in winding up and dissolution matters S.54Disposal of surplus assets S.55Power to enforce attendance, etc S.56Appeals S.57Money how recovered S.58Liability as contributories of present and past members S.59Obligations of directors whose liability is unlimited S.60Contributory and nature of his liability S.61Power of Registrar to call for information S.62Special audit by Registrar S.63Investigation of affairs of corporation S.64Production of documents and evidence S.65Prosecution S.66Inspection, production, and evidence of documents kept by Registrar S.67Meaning of officer who is in default S.68Penalty for contravention of section 13 S.69Penalty for contravention of section 26 or 27 S.70Penalty for contravention of section 28 S.71Penalty for contravention of section 29 S.72Penalty for contravention of section 32 S.73Penalty for contravention of section 33 S.74Penalty for contravention of section 34 S.75Penalty for contravention of section 35 S.76Penalty for contravention of section 36 S.77Penalty for contravention of section 38 S.78Penalty for contravention of section 40 S.79Penalty for contravention of section 45 S.80Penalty for contravention of section 49 S.81Penalty for contravention of section 61 S.82Penalty for false statement S.83Penalty for wrongful withholding of property S.84Members guilty of offences punishable as strangers S.85Penalty for contravention not provided for S.86Offences against Act to be cognizable only on complaint by Registrar, member or State Government S.87Jurisdiction to try offences S.88Offences to be non-cognizable S.89Prohibition for borrowing money, etc S.90Application of assets in furtherance of objects S.91Copies to be furnished to members S.91AFee for filing or registering certain documents under the Act with Registrar S.92Recovery of sums due to State Government S.93Rules S.94Indian Companies Act, 1913 to cease to apply to corporations S.95Saving

The Maharashtra Non-trading Corporations Act

Act ID: 1959

The Maharashtra Non-trading Corporations Act

"An Act to provide for the incorporation, regulation and winding up of non-trading corporations whose objects are confined to the State of Bombay."

Table of Contents

96 Sections

Ch.

Sections

S.1Short title, extent and commencement S.2Definitions S.3Registrar and other officers S.4Act to override memorandum, articles, etc S.5Mode of forming corporations S.6Requirements with respect to memorandum S.7Alteration of memorandum S.8Articles prescribing regulations for corporations S.9Alteration of articles S.10Alteration of memorandum and articles to be registered S.11Corporations not to be registered with undesirable names S.12Change of name by corporations S.13Rectification of name of corporations S.14Registration of change of name and effect thereof S.15Registration of memorandum and articles S.16Effect of registration S.17Conclusiveness of certificate of incorporation S.18Effect of registration of memorandum and articles S.19Effect of alteration in memorandum or articles S.20Amalgamation or division of corporations S.21Register of members S.22Power of Registrar to rectify register of members S.23Directors S.24General powers of Board S.25Restrictions on powers of Board S.26Annual general meeting S.27Power of State Government to call annual general meeting S.28Registration of certain resolutions S.29Minutes of proceedings of general meetings and of Board and other meetings S.30Minutes to be evidence S.31Presumptions to be drawn where minutes duly drawn and signed S.32Inspection of minutes books of general meetings S.33Books of accounts to be kept by corporations S.34Annual accounts and balance sheet S.35Right of members to copies of balance sheet and auditors' report S.36Three copies of balance sheet, etc. to be filed with Registrar S.37Appointment of auditors S.38Powers and duties of auditors S.39Form of contracts S.40Investment of corporation to be held in its own name S.41Power for corporations to refer matters to arbitration S.42Modes of winding up S.43Circumstances in which corporation may be wound up voluntarily S.44Effect of voluntary winding up on status of corporation S.45Declaration of solvency in case of proposal to wind up voluntarily S.46Corporation to appoint and fix remuneration of liquidators S.47Board's powers to cease on appointment of liquidator S.48Powers and duties of liquidator S.49Final meeting and dissolution S.50Winding up by Registrar S.51Cancellation of registration S.52Power of Registrar to assess damage against delinquent promoters, etc S.53Bar of suit in winding up and dissolution matters S.54Disposal of surplus assets S.55Power to enforce attendance, etc S.56Appeals S.57Money how recovered S.58Liability as contributories of present and past members S.59Obligations of directors whose liability is unlimited S.60Contributory and nature of his liability S.61Power of Registrar to call for information S.62Special audit by Registrar S.63Investigation of affairs of corporation S.64Production of documents and evidence S.65Prosecution S.66Inspection, production, and evidence of documents kept by Registrar S.67Meaning of officer who is in default S.68Penalty for contravention of section 13 S.69Penalty for contravention of section 26 or 27 S.70Penalty for contravention of section 28 S.71Penalty for contravention of section 29 S.72Penalty for contravention of section 32 S.73Penalty for contravention of section 33 S.74Penalty for contravention of section 34 S.75Penalty for contravention of section 35 S.76Penalty for contravention of section 36 S.77Penalty for contravention of section 38 S.78Penalty for contravention of section 40 S.79Penalty for contravention of section 45 S.80Penalty for contravention of section 49 S.81Penalty for contravention of section 61 S.82Penalty for false statement S.83Penalty for wrongful withholding of property S.84Members guilty of offences punishable as strangers S.85Penalty for contravention not provided for S.86Offences against Act to be cognizable only on complaint by Registrar, member or State Government S.87Jurisdiction to try offences S.88Offences to be non-cognizable S.89Prohibition for borrowing money, etc S.90Application of assets in furtherance of objects S.91Copies to be furnished to members S.91AFee for filing or registering certain documents under the Act with Registrar S.92Recovery of sums due to State Government S.93Rules S.94Indian Companies Act, 1913 to cease to apply to corporations S.95Saving