Use Company Registration to make someone fall in love with your business Is it sounds tricky? Company is a separate legal entity and having perpetual succession for the purpose of law based community. There are lots of promoters who are initiating the promotion of a company in a continuous sequence. The promoters carrying certain steps like preparation of prospectus, MOA creation, assisting the registration steps, etc. The term “Promoter” is comes under the section 2 (69). According to the Companies Act, 2013 the person who has been named in the prospectus or identified in the annual return is termed as promoters.
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Similarly, the person who is having certain control over the affairs of the company as a shareholder, director or anything else also considered as promoters. If any person who is acting merely in a professional way should not considered as a promoter. Example of such persons who carries professional capacities are solicitor, banker, accountant etc. Companies are classified broadly under section 3. Companies can be classified as limited liabilities by shares or guarantees or with unlimited responsibilities.
Philosophy of Company Registration
The notification from 5th June 2015 stated that, for Government companies there is no need to put suffix as Pvt.Ltd/Ltd. This mandatory rule also has certain norms like the company has not committed any default filing in its financial statements under section 137 or annual return under section 92 with the Registrar. The section 3 of the companies Act, 2013 deals some basic requirements of the company in association with the structure of the company. Any person can form a public limited company with or without limited liability by adding sum of 7 or more members in that group.
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Grouping members in the sense subscribing their names to memorandum and completing the requirements of the Act in respect of registration. Likewise, 2 or more person can combined to form a Private Limited company and 1 person can lead & form a one person Company. As a nominee the one person company have to submit one person to the Memorandum of Association who would takes the director place in case of his death or incapacity. The nominee can change at any time and it will not affect the alteration process of the MoA.
Company Incorporation (Section 7)
Section 7 of the companies Act, 2013 defines the process for incorporation of a company.
The declaration submission that all subscribers have paid the shares agreed by him and verification of registered office also been filed according to the section 10A. These requirements are need to file before the commencement of the business.
Steps
- Name reservation by filing e-application
- Drafting and Signing of MoA & AoA and submission to the Registrar of Companies.
- Nomination of persons as Director to act according to the companies Act.
- Statutory declaration of compliance’s Submission
- electronically paying the fees & amount of stamp duty
- Getting incorporation certificate duly signed by the RoC
- Submission of application regarding address of Registered Office
Filing the Documents and information with the Registrar of the company
The first step for the company registration is to file the documents and information with the Registrar within the concerned jurisdiction of the company. The memorandum and articles of the firm should be signed by all the subscribers.
Each subscriber’s declaration to the memorandum and the article of the first director states that, he is not attempted any offence in connection with the promotion of the new company, he has not been included any fraudulent activity to the company under the Act during the last five years, all the documents that are submitted to the registrar of the company should be true, complete and correct to the best of his knowledge and belief.
Filing with RoC
Address of the correspondence, every subscriber’s particulars to the memorandum along with the identity proof in case of the subscriber is being the body corporate, particulars of the first director and other particulars including identity proof as may be prescribed, particulars of the first director of the company in other firms along with their consent to act as the director in a prescribed format.
Issuing the incorporation certificate:
The Registrar of the company issue the certificate of company formation according to the documents and information field in the register.
Corporate Identity Number Allotment:
The date mentioned in the certificate of registration, the registrar may allot some specific number to the company as a corporate identity number, which is the distinct identity for the company & also mentioned in the certificate.
Maintaining the copies of Documents:
The company should maintain the copies of all documents and information under the Dissolution Act.
Furnishing false document of material at the time of company incorporation online
If any person furnishes any fault or incorrect information regarding the company, then he is liable for the fraud action under the Section 447.
Company already registered by furnishing any false fact of material:
At any time after the incorporation of the company, it is proved that the company is registered under some incorrect activities or by suppressing any material fact or by any fraudulent action, then the director of the company and the person making declarations under this section shall be liable for action under section 447.
Registration effects
The effects of company registrations are included in the Section 9 of the Companies Act, 2013. According to section 9 of the Act each members and subscribers to the memorandum and all other persons are becomes the members of the company shall be a body corporate. Such registered company is having certain capabilities for exercising all the functions under the Act are having perpetual succession with power to hold, acquire, and dispose of property to contract and to sue by the said name. From the date mentioned in the company registration certificate, the company and its members becomes the legal entity and it comes into existence with a binding contract between the company and its members by the MOA and AoA.
Conclusion
If you are confused with the registration procedures and cost of formation, Do not worry. Let’s hands hold each other. We Solubilis offer all types of Company Registration in Coimbatore at affordable and simple way. Our services includes Private Limited Company Registration, Public Limited Company Registration, LLP, and OPC. Our expert team is here to help you through all the hindrances.
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