Company Registration In CBE
Where the proposal is to undertake the business of banking, it can be carried on without registration as a company if the number of persons joining together for the business is not more than ten. If there are more than ten persons who together intend to do banking business, they cannot do so unless they form company and register it under the Act Company Registration Coimbatore.
The mandatory need for registration as a company arises only when an association of more than twenty persons intends to vary on some business other than banking with the object of acquisition of gain. Acquisition of gain or the intention to earn profit is the important criterion Company Registration Coimbatore.
When an association was formed with the object of acquiring land and division thereof amongst the members, such an association was formed with the object of acquiring land and division thereof amongst the members, such an association was held outside the ambit of the statutory provision Company Registration Coimbator
PRELIMINARIES INCOMPANY FORMATION
The promoter of a company may be an individual entrepreneur or a group of them or a body corporate or bodies corporate engaged in efforts to bring into being a company. They have the power of defining the object of the company and deciding various matters for the internal regulation of the company proposed to be incorporated. The various steps which a promoter will have to take for the formation of a company are explained below One Person Company Registration
Basically a company cannot register itself by a name which, in the opinion of the Central Government, already been registered and is in existence. Further a company cannot select a name which is identical with or too closely or nearly resembles the name of an existing company in the country generally or which is identical with or too nearly resembles a registered trade mark or trade mark which is subject of an application for registration of any person under the Trade Marks Act, 1999 (Section 20). The Central Government, before deeming a name sun desirable under section (2)(ii)ofsection20,mayconsultresiteroftrademarkes One Person Company Registration.
It will be recognized that close similarity in name will not only mislead and clause confusion to the public but will also cause injury to the business of any of the companies concerned. (Ewing V. Butter cup Margarine co.ltd (1917)2ch.1) For the guidance of the promoters and other, the Central Government has formulated detailed guidelines laying down the principles that will be taken into account for deciding availability of names. These guidelines may be seen in Appendix 6/99 dated f13-5-1999, the text of which is quoted separately in this chapter Private Limited One Person Company Registration.
Regarding name availability for companies in the insurance sector, the Department by its Circular No. 5/2005/14/2000, CL.V,dt. 30-6-2000 has advised the Registrars that instead of following the earlier circular dated 13-5-1999(quoted above), they may allow names with the Insurance Regulatory Authority and such names can be allowed only to new companies. The contents of the circular are quoted below:
“Attention is invited to this Department’s Circular No.6//99(5/35/98-CL.V) dated 13-5-1999 in regard to allow ability of names for entrepreneurs seeking to promote companies for providing insurance services Company Registration Coimbatore. In terms of above circular such names were being gig en only after consulting the Insurance Regulatory Authority until now. Consequent on coming into force of Insurance Regulatory and Development Authority Act, 1999 i.e. 19-4-2000, Department has received a reference from Insurance Regulatory Authority advising that embargo on registration of names by new companies could be lifted Company Registration Coimbatore. In view of this all ROCs are advised that they may allow names with the wore Insurance/assurance or Risk Corporation as part of the name without any need to consult Insurance Regulatory Authority. It is hereby clarified that such names can be allowed only to new companies and not for change of name as existing companies are not allowed to carry on any insurance activity. ”However, the Department has issued Circular 19/2003, dated 25-4-2003, dated 25-4-2003 by which it has allowed ROCs to permit change of name of existing companies also to do business of insurance brokers Company Registration Coimbatore.
CORPORATE IDENTITY NUMBE (CIN)
In order to identify companies belonging to a State, Industry, ownership or age, registered on or after 1st November, 2000, the Department has asked the Registrars to allocate a Corporate Identity Number. The text of the circular dated 25-10-2000 may be seen in Appendix 2.3. It will be seen from the restructured Form for e-filing in Chapter 30 that all companies are required to indicate the CIN in the Form.
MEMORANDUM AND ARTICLES OF ASSOCIATION
Simultaneously with making the application to the Registrar for availability of name, the promoters may find it convenient to arrange for the preparation of the draft Memorandum of Association and Articles of Association which are required for registration of a company. These are dealt with in the next two chapters.
CONVERSION OF PRIVATE INTO PUBLIC
Where it is proposed to convert a private limited company into a public one, the following steps is taken
ü the board of director shall accord approval of to the proposal and call a general meeting to get the approval of members by special resolution to delete the restrictive condition as per section 3(1) (iii) in the articles and to modify the articles in order respect and to deleted the word “private “ form its name;
ü the numbers of members shall be at least seven at the time (namely the minimum numbers of members in a public company)
ü after the special resolution is passed by shareholder , file certified copy of the special resolution with the register of companies 30 days after passing and required the register to deleted the word “private “ form its name and make the necessary alteration in this certificate of incorporation and in the memorandum of association .
ü In terms of section 44, within30days of the conversation of the private company to public by deceleration of the conditions of section 3(1) (iii) , the company shall file a statement in lieu of proposed containing the particular of schedule VI to the act.
ü On and after the resolution to convert the company is passed, please ensure that there are at least there director on the board. (See section 252).
