Section 161(2)(b) in The Companies Act, 1956

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Union of India - Subsection

Section 161(2)(b) in The Companies Act, 1956

(b)in the case of a private company also, (i) that the company has not, since the date of the annual general meeting with reference to which the last return was submitted, or in the case of a first return, since the date of the incorporation of the company, issued any invitation to the public to subscribe for any shares or debentures of the company, and (ii) that, where the annual return discloses the fact that the number of members of the company exceeds fifty, the excess consists wholly of persons who under sub-clause (b) of clause (iii) of sub-section (1) of section 3 are not to be included in reckoning the number of fifty.

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Union of India - Subsection

Section 161(2)(b) in The Companies Act, 1956