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CO. U/S 25

This query is : Resolved 

PLEASE ADVISE ME THE PROCEDURE OF INCORPORATION OF CO. U/S 25 IN DETAILS AND ACTUAL FEE FOR THAT.


PROCEDURE FOR INCORPORATION:

Application for license:

1.An application has to be made for availability of name to the registrar of companies, which must be made in the prescribed Form no. 1A, together with a fee of Rs.500/-. The name must not resemble the name of any other already registered company and also should not violate the provisions of Emblems and Names (Prevention of Improper Use Act, 1950).

2. Once the availability of name is confirmed (within 7 days), an application (Form 24 A) should be made in writing to the Regional Director of the Company Law Board. The application should be accompanied by the following documents:

a)3 printed or typewritten copies of the Memorandum and Articles of Association of the proposed company, duly signed by all the promoters with full name, address and occupation.

b)A declaration by an advocate or a chartered accountant that the Memorandum and Articles of Association have been drawn up in conformity with the provisions of the Act and that all the requirements of the Act and the rules made thereunder have been duly complied with, in respect of registration or matters incidental or supplementary thereto.

c)3 copies of a list of the names, addresses and occupations of the promoters (and where a firm is a promoter, of each partner in the firm), as well as of the members of the proposed board of directors, together with the names of companies, associations and other institutions in which such promoters, partners and members of the proposed board of directors are directors or hold responsible positions, if any, with description of the positions so held.

d)A statement showing in detail the assets (with the estimated values thereof) and the liabilities of the association, as on the date of the application or within seven days of that date.

e)An estimate of the future annual income and expenditure of the proposed company, specifying the sources of the income and the objects of the expenditure.

f)A statement giving a brief description of the work, if any, already done by the association and of the work proposed to be done by it after registration, in pursuance of section-25.

g)A statement specifying briefly the grounds on which the application is made.

h)A declaration by each of the persons making the application that he/she is of sound mind, not an undischarged insolvent, not convicted by a court for any offence and does not stand disqualified under section 203 of the Companies Act 1956, for appointment as a director.

3. The applicants must also furnish to the Registrar of Companies (of the state in which the registered office of the proposed company is to be, or is situate) a copy of the application and each of the other documents that had been filed before the Regional Director of the company law board.

4. The applicants should also, within a week from the date of making the application to the Regional Director of the Company Law Board, publish a notice in the prescribed manner at least once in a newspaper in a principal language of the district in which the registered office of the proposed company is to be situated or is situated and circulating in that district, and at least once in an English newspaper circulating in that district.

5. The Regional Director may, after considering the objections, if any, received within 30 days from the date of publication of the notice in the newspapers, and after consulting any authority, department or ministry, as he may, in his discretion, decide, determine whether the license should or should not be granted.

6. The Regional Director may also direct the company to insert in its Memorandum, or in its Articles, or in both, such conditions of the licence as may be specified by him in this behalf.

Grant of License and Certificate of Incorporation:

The Regional Director scrutinizes the application received by him. The Registrar of Companies, to whom a copy is sent, also forwards his recommendations to the Regional Director.

The Government by issue of license allow an association be registered as a company with limited liability for the members, without the addition to its name of the word "Limited" or the words "Private Limited".

After receiving the license an application is to be made to the Registrar of Companies (ROC) along with following documents:

1.Printed copy of the Memorandum and Articles of Association.

2.The license granted by the Regional Director.

3.One copy of Form 1

4.One copy of Form 18

5.Two copies of Form 32

6.The requisite amount of fees payable which is Rs. 50 plus Rs. 10 per document; i.e., Form1, Form 18, Form 32.

The Registrar of Companies after scrutinizing the requisite documents shall issue a Certificate of Incorporation.

Well explained by Richa Ji.

Fees for 1A has been renewed Rs. 1000


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