What is the section under companies act,1956 which mentions about incorporation of private limited company. Sec 3 is only a definition section. I want the section which deals with incorporation.
vishnupriya (CA Final) (1418 Points)
26 September 2012What is the section under companies act,1956 which mentions about incorporation of private limited company. Sec 3 is only a definition section. I want the section which deals with incorporation.
Smriti Dhawan
(Company Secretary )
(347 Points)
Replied 26 September 2012
Section 12 of Companies Act provides Mode of forming incorporated company
(1) Any seven or more persons, or where the company to be formed will be a private company, any two or more persons, associated for any lawful purpose may, by subscribing their names to a memorandum of association and otherwise complying with the requirements of this Act in respect of registration, form an incorporated company, with or without limited liability.
(2) Such a company may be either—
(a) a company having the liability of its members limited by the memorandum to the amount, if any, unpaid on the shares respectively held by them (in this Act termed “a company limited by shares”);
(b) a company having the liability of its members limited by the memorandum to such amount as the members may respectively undertake by the memorandum to contribute to the assets of the company in the event of its being wound up (in this Act termed “a company limited by guarantee”); or
(c) a company not having any limit on the liability of its members in this Act termed “an unlimited company”).
Other provisions with regard Incorporation of Company and Matters Incidental thereto are provided in Section 11 to 54 of Companies Act, 1956
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
