Section-25 Company
According to section 25(1)(a) and (b) of the Indian Companies Act, 1956, a section-25 company can be established ‘for promoting commerce, art, science, religion, charity or any other useful object’, provided the profits, if any, or other income is applied for promoting only the objects of the company and no dividend is paid to its members.
Read more about this topic: Non-profit Laws Of India
Famous quotes containing the word company:
“A man is never completely alone in this world. At the worst, he has the company of a boy, a youth, and by and by a grown man—the one he used to be.”
—Cesare Pavese (1908–1950)