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The Maharashtra Non-trading Corporations Act

Maharashtra

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

Act number
26 of 1959
Ministry
Govt of Maharashtra
Department
Law and Judiciary Department
Enacted
30 Apr 1959

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

96 sections

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