Section 8 Company Registration Process and list of documents required to file with the MCA for filing - Jordensky
Section 8 The Companies Act of 2013's Section 8 allows for the registration of nonprofit organization as a corporation, trust, or society
For the goal of advancing the arts, business, science, education, research, social welfare, charity, the preservation of the environment or any other social welfare-related objective.
In contrast to trust and society, Section 8 Company offers additional advantages. Donors, government agencies, and other stakeholders are more likely to trust a business of this type.
For a section 8 company to be incorporated, the following documents are necessary:
Section 8 of a Like other businesses, the corporation must meet with annual compliance requirements; if it doesn't, it will be considered dormant and may be removed from the register.
The procedures to incorporate a Section 8 company are as follows:
First, if the company's directors and promoters don't already have them, you should obtain their Digital Signature Certificates(DSC). An application is submitted to the certifying authority in order to get DSC.
Secondly, get the Directors Identification Number (DIN) for each of the company's directors.
An application in Form INC-1 will be submitted to the company registrar for name approval. The applicant may submit a maximum of six names for approval. The 60-day approval period applies to names. According to the 2014 business incorporation laws, phrases like foundation, association, forum, council, chambers, etc. must be included in section 8 companies.
Once the name has been approved, the next stage is to prepare the MOA and AOA, which must then be submitted to the ROC along with other paperwork for the license in accordance with Section 8 of the Companies Act of 2013. The signatories to the memorandum must affix their signatures to the MOA and AOA.
For the purpose of issuing a license to the section 8company under the 2013 Companies Act, Form INC 12 is submitted to the ROC.
With the following attachments:
After approval of the form, the license is issued in Form INC 16.
Incorporation application is filed in form INC 7 along with the following attachments:
Form INC 22 is to be filed for the situation of the registered office of the company along with the following attachments:
The registrar shall issue the certificate of incorporation together with the specific Company Identification Number following satisfaction of the forms submitted to the ROC.
The following benefits can be enjoyed:
If a company violates this section's requirements, the company will be subject to a fine that cannot be less than ten lakh rupees and cannot be less than one crore rupees, and the directors and officers who committed the violation will be subject to either up to three years in prison or a fine that cannot be less than twenty-five thousand rupees and cannot be less than twenty-five lakh rupees, or both.
A limited company's incorporation process is similar to that of a section 8 business. Section 8 businesses have the most dependable and robust organizational structures because to better laws. Contact jordensky if you have any questions about incorporating a section 8 firm.
Que - Who may submit an application to register a Section 8 company?
Ans - Any person or group of people may submit an application for a section 8 business, provided that:
Que - Who grants a Section 8 company's licence?
Ans - The licence for a Section 8 company may only be issued by the Registrars of Companies of the relevant jurisdictions with permission from the Central government.
Que - Can a One Person Company (OPC) be registered or transformed into a Section 8 Company?
Ans - No. OPC cannot be incorporated or changed into a Section 8 company under the Companies Incorporation (Rules), 2014 regulations.
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