Company Law

Incorporation of Company

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Incorporation of Company

If you are planning to start a company, it is not a one day process or not an easy task. So first of all you must need to learn some basics information about Incorporation of a company in this article.

What is Incorporation of Company?

The Incorporation of a Company stands for the legal process that is implemented to form a corporate entity or a Company. Company is an incorporated association of persons which is registered under the companies Act.

Arlyy - Company Incorporation

Registration or Incorporation of a Company?

Below are the required documents to be filed with the registrar of companies at the time of registration of a company under the provisions of the companies Act:

  1. Requirements of Section: There must be an association of persons who are interested to forming a company. If the company to be incorporated is a private company, the persons associated must be at least 2. On other hand, if the company to be registered is a public company, the persons associated must be at least 7. The persons so associated must have a common objective to pursue by the company.
  2. Availability of name: An application in the prescribed form shall be made to the registrar for discovering the availability of the proposed name. And Registrar will inform as to whether the proposed name is available or not.
  3. Compulsory Documents: In this point we discuss documents required to be filed with the registrar.
  • Memorandum of Association: It is the main document of a company which refers its objects. It can be termed as the constitution of the company since it governs the relationship of the business with outside world. Clauses of Memorandum of Association includes Name Clause, Situation Clause, Objects Clause, Liability Clause and Capital Clause.
  • Article of Association: It is an important document of a company which contains rules, regulations and bye-laws for the internal administration of the company. Articles regulate the internal management of the company and also governs relationship between the company and their members. The Articles of association of a company contents Definition of important terms and phrases, Share capital and rights attached to different classes of shares, Calls and forfeiture of share, appointment of managerial employee and their Companies rules.

  • Optional Documents:

    Following documents can be filed with the registrar before incorporation or within 30 days of incorporation.

  • Address of registered office of the company (Form No.18)
  • Particulars of Directors, manager and secretary (Form No.32)

 

  1. Issue of Certificate of Incorporation: The Registrar shall retain and register the documents filed with him, and afterwards register the company if they satisfied that- all the requirements named before have been complied with and, the company is authorized to be registered under this Act.

There are some Consequences after the Incorporation in which the Company becomes a body Corporate, and the company acquires a legal recognition, the company gets a name in which it shall carry on business.

Allotment of Shares: 2022

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