SECTION 378

EFFECT OF REGISTRATION UNDER PART IX

Whether public company registered under Part IX is required to comply with sections 149 and 165

A point has been raised as to whether a public company registered under Part IX of the Act is required to comply with the provisions of section 149 and section 165. This Department is of the view that as provided under sub-section (1) of section 578, all the provisions of the Act shall be applicable to such companies subject to the exceptions as enumerated under clauses (a) to (g) of the said sub-section. Therefore, the provisions of sections 149 and 165 shall be fully applicable to the public companies registered under Part IX.

* CIRCULAR NO.24/75, DATED 202.11.1975.