The private limited company incorporation includes preference shares. Those preference shares have the voting right regarding the provision of section 47 of the 2013 Act.
Identically, These voting right allowing the preference shares to incorporate with the company.
Similarly, If the preference shares are issuing by the meant company then it is known as convertible preference shares.
This is in accordance with the definition of Total share capital of the company rule.
Furthermore, after the incorporation of the private limited company keep in minds that it does not merge as the lower of a public company.
However, drafting the memorandum of association we only consider the preference shares of the settled dividend and that is mentioned in the capital passage.
Likewise, while creating the Article of association notes that not only the preference shares with fixed dividends are mentioned in the capital heading category.
Apart from that those have the voting rights and mentioned under the voting right category.
In some cases, the private limited company with preference shares can only register but there also some fundamental shares for giving preference to the preference shareholders.
Besides, as per section 43 of the Companies Act, the companies should be limited by shares to have an equality share capital of two types. Namely with voting rights or with differential rights.
Conversely, registration of a company for the charitable purpose or any other without adding the suffix as limited or private limited
To register such types of company we should follow the below terms/steps:
- Despite, prepare draft memorandum and article of association as per the companies rule.
- Do not take the print out before examined by the Regional Director.
- Although, apply an official letter to the registrar regarding the registration of a company without adding the suffix as limited or private limited.
The private limited application form in the e-Form INC-12 may associate with the below documents:
1) The article of association and memorandum of the proposed company.
2) Notably, the declaration form in the form of INC-14^5 on non-judicial stamp paper by an accountant or the CA or the companies director.
3) Moreover, we should declare the expenditure and income ways of the company in the coming 3 years and its resources.
4) The fee for making the application is 2000 to the registrar and it should pay by online.
5) Uniquely, the company is requesting to publish the notice by its own expenses, at least one in a dialect newspaper in the dialect language of the district where the company is located. And also share in the English newspaper.
6) To explain, the departmental instructions should follow for processing the application must be observed.
7) After considering the objections the registrar must grant the application of the company within 30 days from the publications. The objections should examine by the consulting authority, regulatory body, ministry of the central government, etc.
8) The license should be in the form no. INC-16 OR Form INC-17. The registrar only has the right to include additional objectives within the form.
9) Moreover, the license can be revoked by the central government with the company’s right. The copy of every order should be given to the registrar.
10) After getting the license get the memorandum and article of association as approved by the registrar.
11) As well as prepare and arrange all the documents which are necessary to file with ROC along with the MOA and AOA.
12) The Private limited company registration will get made in Form-INC-11 after the correction of issues in the ROC.
Conclusion:
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