To do activities for the welfare or organisations with objects which are not with profit motive, there are three types of entities which can be formed. A society under the societies registration Act, a trust by execution and registration of a trust deed or a section 8 company as an incorporated entity under The Companies Act, 2013. Procedure to form Section 8 Company is held to be professionally managed organisations as they are subject to the articles of association and the provisions / rules of companies act which have detailed provisions governing the functioning of a company. To register Section 8 Company a license is needed from the registrar which is a stringent process.
While doing attestation a blue Ink pen must be used and the attesting authority must place his official seal mentioning his name, designation, employee identification number, phone number.
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This Pack enables you to have a legal entity registration with all necessary document for opening of the bank account
This pack includes everything of basic pack and the TDS return filing service for one year
Includes everything of silver pack plus filing of trademark to protect your brand name
directors of the company shall obtain Digital Signature of Class-2. To obtain digital signature photograph, copy of pan card, address proof. All the documents must be attested by a gazetted officer, banker, post master or principal / headmaster of school.
All proposed directors need to obtain Director Identification Number, for this purpose an online application is made to ROC annexing colour photograph, the copy of pan card, proof of identity & residential proof (not older than 2 months). All documents need to be self-attested.
For reservation of Name of the company an application is moved before the jurisdictional registrar of companies in INC-1 through e-filing mechanism at the website of ministry of corporate affairs. The names are made available based on the provisions contained under section 4 of the companies, Act 2013 and rules (Rule 8 & 9 of The Company Incorporation Rules, 2014) framed thereunder and further directions issued by the ministry of corporate affairs. The legal position with respect to the name of a section 8 company can be summarised as following.
After Name approval of the company, an application is moved before the registrar of companies seeking license to open a section 8 company. The application must accompany memorandum & articles of company, Projected statement of Income & Expenditure of next three years & Statement of assets and liabilities, Description of activities to be carried on by the proposed company, declarations from proposed directors & professional engaged in the incorporation process of section 8 company.
After the grant of license the e-form for incorporation is filed along with necessary attachments like Approved MOA & AOA, Address Proof, Identity Proof, Copy of Pan Card of Directors & Promoters, some statutory declarations and affidavit, and license copy. Along with incorporation related e-form an intimation of registered address and appointment of director is filed. Upon satisfaction of Roc that all the forms and documents / attachments are in order a certificate of incorporation is issued, which is a conclusive proof that a section 8 company has been incorporated.
A section 8 Company is also subject to all other laws as may be applicable on any other form of business hence after incorporation must secure following
Ans:Yes, Section-8 Company can be converted into Private Limited Company if someone wishes to do so in future.
Ans: No, INC-29 is not applicable for Section-8 Company as it’s important to get license from the RD for Section 8 companies.