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  COMPANY FORMATION IN INDIA
The term ‘company’ denotes an association of a number of individuals (or even an association of associations) formed with a purpose of carrying on business/trade/economic activity. A company as a form of business entity is registered and incorporated under provisions of The Companies Act, 1956 (Act I of 1956). A company registered under provisions of Companies Act, 1956 has separate legal entity (as distinct from its members) and is capable of conducting business and also has the authority to sue and be sued in its own name. The provisions of the Companies Act, 1956, primarily conceives of two types of companies i.e. Private and Public.
Procedure of Incorporate
1. Pre-Incorporation
Availability of proposed name of the Company;
Drafting of Memorandum of Association for the proposed Company;
(c) Drafting of Articles of Association of the proposed Company;
(d) Stamping of Memorandum and Articles of Association;
(e) Filing of prescribed documents with the Registrar of Companies (for incorporation)
(f) Issue of certificate of Incorporation of the Company;
   
   
(a) The stamped and signed original memorandum and articles of association;
(b) Declaration of compliance with the provisions of the Companies Act, 1956 in form Form No. 1;
(c) The original letter of approval of the name issued by the Registrar of Companies;
(d) The power of attorney;
(e) Form 32 as prescribed under the Rules, in duplicate in respect of first directors named in the Articles of Association of the Company;
(f)
Form No. 29 as prescribed under the Rules, in respect of consent of first directors to be appointed as directors of the Company. This form is not
required in case the company under incorporation is a private limited company;
(g) Form No 18, giving notice of the situation of the registered office of the Compan ; and
(h) The agreement, if any, which the company proposes to enter into with any individual for appointment as its managing director or whole time
director.
2. Post-Incorporation
(a)
Certificate of Commencement of Business (only in case of public company);
(b) Procuring and display of the name plate of the Company at the registered office of the Company;
(c) Printing of stationary, stamping and issue of share certificates to the shareholders of the Company.
   
   
(a)
Filing a statement in lieu of prospectus (in case where the company has not issued any prospectus inviting the public to subscribe to its shares)
with the concerned Registrar of Companies
(b)
Every director of the company has paid to the company, on each of the shares taken or contracted to be taken by him and for which he is liable
to pay in cash, a proportion equal to proportion payable on application and allotment on the shares payable in cash; and
(c) Filing a declaration in the prescribed form, duly verified by one of the directors or secretary with the concerned Registrar to the effect that the
conditions mentioned herein above have been complied with.
   
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