Formation of a Company
A company comes into existence when it is registered with the Registrar of Companies. Registration or incorporation of a c company involves the following steps:
Approval of Name: First of all, the name of the proposed company is approved from the Registrar of Companies. For this purpose, the promoters fill in a file a Name Availability Form. The company may adopt any name which is not prohibited a does not resemble the name of an existing company.
Application: An application in the prescribed form is submitted to the Registrar of Companies in the State in which the registered office of the company is to be situated.
Filling of Necessary Documents: The following document shave to be filed with the Registrar of Companies along with the application:
Memorandum of Association duly signed by at least two persons in case of a private company and at last seven persons in case of a public company.
The Articles of Association, if any, duly signed by the same persons.
A list and written consent of the persons who have agreed to become directors of the Company.
An undertaking by directors to take up and pay for qualification shares.
Notice of address of the registered office of the company. It may, however, be filed within 30 days of incorporation.
A statutory declaration stating that all the legal requirements of the Companies Act with regard to incorporation have been duly complied with. This declaration may be made by a director. Managing director or secretary of the company or by a praising chartered accountant, an advocate of the High Court of Supreme Courts.
Registration Fee: Along with the documents, necessary filing fees and registration fees at the prescribed rates are to be deposited.
Registration: The Registrar will scrutinize the above documents. If he is satisfied, he will enter the name of he company in his register. After registration, the registrar will issue a certificate of incorporation. This certificate bears the serial number, date of incorporation and the signature and seal of the Registrar. It is a conclusive evidence ha all legal formalities required for the incorporation of company have been duly fulfilled. The company becomes a separate legal entity form the date mentioned in the certificate of incorporation.