law: Companies Act, 1956
  Sec 25    -     Power
  
  to dispense with "Limited" in name of charitable or other company.
  (1) Where it is proved to the satisfaction of
  
  the Central Government that an association :
  (a) is about to be formed as a limited company
  
  for promoting commerce, art, science, religion, charity or any other useful
  
  object, and
  (b) intends to apply its profits, if any, or
  
  other income in promoting its objects, and to prohibit the payment of any
  
  dividend to its members, the Central Government may, by license, direct that
  
  the association may be registered as a company with limited liability, without
  
  the addition to its name of the word "Limited" or the words
  
  "Private Limited".
  (2) The association may thereupon be
  
  registered accordingly; and on registration shall enjoy all the privileges, and
  
  (subject to the provisions of this section) be subject to all the obligations,
  
  of limited companies.
  (3) Where it is proved to the satisfaction of
  
  the Central Government :
  (a) that the objects of a company registered
  
  under this Act as a limited company are restricted to those specified in clause
  
  (a) of sub-section (1), and
  (b) that by its constitution the company is
  
  required to apply its profits, if any, or other income in promoting its objects
  
  and is prohibited from paying any dividend to its members, the Central
  
  Government may, by license, authorize the company by a special resolution to
  
  change its name, including or consisting of the omission of the word
  
  "Limited" or the words "Private Limited"; and section 23
  
  shall apply to a change of name under this sub-section as it applies to a
  
  change of name under section 21.
  (4) A firm may be a member of any association
  
  or company licensed under this section, but on the dissolution of the firm, its
  
  membership of the association or company shall cease.
  (5) A license may be granted by the Central
  
  Government under this section on such conditions and subject to such
  
  regulations as it thinks fit, and those conditions and regulations shall be
  
  binding on the body to which the license is granted, and where the grant is
  
  under sub-section (1), shall, if the Central Government so directs, be inserted
  
  in the memorandum, or in the articles, or partly in the one and partly in the
  
  other.
  (6) It shall not be necessary for a body to
  
  which a license is so granted to use the word "Limited" or the words
  
  "Private Limited" as any part of its name and, unless its articles
  
  otherwise provide, such body shall, if the Central Government by general or
  
  special order so directs and to the extent specified in the directions, be
  
  exempt from such of the provisions of this Act as may be specified therein.
  (7) The license may at any time be revoked by
  
  the Central Government, and upon revocation, the Registrar shall enter the word
  
  "Limited" or the words "Private Limited" at the end of the
  
  name upon the register of the body to which it was granted; and the body shall
  
  cease to enjoy the exemption granted by this section:
  Provided  that, before a license is so revoked,
  
  the Central Government shall give notice in writing of its intention to the
  
  body, and shall afford it an opportunity of being heard in opposition to the
  
  revocation.
  (8)
  (a) A body in respect of which a license under
  
  this section is in force shall not alter the provisions of its memorandum with
  
  respect to its objects except with the previous approval of the Central
  
  Government signified in writing.
  (b) The Central Government may revoke the
  
  license of such a body if it contravenes the provisions of clause   (a).
  (c) In according the approval referred to in
  
  clause (a), the Central Government may vary the license by making it subject to
  
  such conditions and regulations as that Government thinks fit, in lieu of, or
  
  in addition to, the conditions and regulations, if any, to which the license
  
  was formerly subject.
  (d) Where the alteration proposed in the
  
  provisions of the memorandum of a body under this sub-section is with respect
  
  to the objects of the body so far as may be required to enable it to do any of
  
  the things specified in clauses (a) to (g) of sub-section (1) of section 17,
  
  the provisions of this sub-section shall be in addition to, and not in
  
  derogation of, the provisions of that section.
  (9) Upon the revocation of a license granted
  
  under this section to a body the name of which contains the words "Chamber
  
  of Commerce", that body shall, within a period of three months from the
  
  date of revocation or such longer period as the Central Government may think
  
  fit to allow, change its name to a name which does not contain those words; and
  
  
  (a) the notice to be given under the proviso
  
  to sub-section (7) to that body shall include a statement of the effect of the
  
  foregoing provisions of this sub-section; and
  (b) section 23 shall apply to a change of name
  
  under this sub-section as it applies to a change of name under section 21.
  (10) If the body makes default in complying
  
  with the requirements of sub-section (9), it shall be punishable with fine
  
  which may extend to five thousand rupees for every day during which the default
  
  continues.