A company is an organization of several individuals who join a collective agreement to volunteer, manage, and act together for a common purpose. Companies are generally registered to promote charitable activities such as sports, music, culture, religion, arts, education, etc.
The registration of companies under the Companies Registration Act of India prescribes certain procedures for the registration and management of companies. This law was enacted with the aim of improving the legal provisions of social registration for the promotion of literature, art, science or the dissemination of awareness for liberal purposes. The Social Registration Act, 1860 has been adopted by many state governments without or with additional amendments.
Promotion of fine arts. Diffusion of political education. Grant of charitable assistance. Promotion of science and literature. Creation of military orphan funds. Maintenance or foundation of galleries or public museum. Maintenance or foundation of reading rooms or libraries. Promotion or diffusion or instruction of useful knowledge. Collections of natural history. Collections of mechanical and philosophical inventions, designs, or instruments.
Companies can be made up of a minimum of 7 people or more. Apart from those from India, companies, foreigners and even other registered companies can also apply for a memorandum of association of the company.
Just like a partnership company, a company can also be listed or unlisted. However, only registered companies are able to support recoverable property and / or have a class filed against or by the company.
Social registration is managed by the state government. Therefore, the application for registration of the company must be made with the authority of the specific country, where the registered office of the company is located.
For company registration, the founding member must first agree on the company name, then prepare a memorandum, followed by the company’s rules and regulations.
The company memorandum as well as the rules and regulations of the company must be signed by each founding member, in the presence of officers, notaries, accountants, commissioners, lawyers, first class judges. or chartered accountants with their clerk’s stamp and full accommodation.
The memorandum must contain the name of the company, the purpose of the company. In addition, it includes details of registered community members along with their names, addresses, positions and professions. The following documents must be prepared, submitted and signed for registration:
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