12 eco-labelling & eco mark scheme of govt of india

7/29/2019 12 Eco-labelling & Eco Mark Scheme of Govt of India

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Incorporation ofa CompanyKAREENA.L.K(15)

NISHI.K(21)S3 MBAKICMA


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Company

The Act of 1956 defines it as acompany formed and registeredunder the Act.


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Definition

Company is an association of personswho contribute moneys or moniesworth to a common stock and employ itfor a common purpose. The commonstock means capital.

Lord Lindley


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Important Terms

INCORPORATIONA company is said to be incorporatedwhen it is registered with the Registrar ofJoint Stock Companies.

PROMOTERA promoter is a person who undertakes thenecessary preliminary steps incidental to theformation of a company .


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Formation of a Company

A company comes into existence when anumber of persons come together witha view to commence some business. It should be lawful. An incorporated company may be:

-limited by share-limited liability


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Duties Of A Promoter1. Preparation of Memorandum ofAssociation.2. Preparation of Articles of Association.

3.Entering into Preliminary Contracts.4.Registration of the Company.


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Procedures forRegistration/Incorporation

The promoter has to decide theproposed form of the company. In case of public company there mustbe seven persons and for privatecompany two persons. Decide the name of the company. Contd..


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It should be registered with Registrarof Companies in the state where theregistered office is situated. The Registrar of Companies may raiseobjections to certain names if they arenot desirable.

Contd..


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After the name is made available,application for registration shall bepresented to the Registrar. It shouldcontain the following documents ;1.Memorandum and Articles ofAssociation of the company withnecessary stamp duty and filing feesaccording to the authorized capital of thecompany.

Contd..


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2.Agreement, if any, in which, the companyproposes to enter into with any individualfor appointment as full - time Director orManager.3. A statement of nominal capital.4. A notice of the address of theregistered office of the company.


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Certificate of Incorporation

(Sec.34)o If the Registrar is satisfied with all therequirements, he shall register the

company and issue a Certificate ofIncorporation under his hand and seal.o This is issued by the Registrar of Joint

Stock Company.


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According to Sec.35,the Certificate ofIncorporation given by the Registrar shallbe a conclusive evidence that: 1. All the requirements of the Act andthe Rules framed there under have

been complied with, in respect ofregistration.

2 .Company is duly registered.3. Company came into existence on

the date of certification.


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12 eco-labelling & eco mark scheme of govt of india

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