{"id":800,"date":"2019-04-27T10:33:17","date_gmt":"2019-04-27T10:33:17","guid":{"rendered":"http:\/\/www.companyregistrationinbangalore.in\/blog\/?p=800"},"modified":"2019-04-27T10:34:31","modified_gmt":"2019-04-27T10:34:31","slug":"incorporation-company-registration-details","status":"publish","type":"post","link":"https:\/\/www.companyregistrationinbangalore.in\/blog\/incorporation-company-registration-details\/","title":{"rendered":"Incorporation of Company"},"content":{"rendered":"\n<p>The section 7 of the 2013 act \u2013 incorporation of the company with board resolution resolved that the printed copy of the original memorandum and AoA of the company is dated the <a href=\"http:\/\/www.companyregistrationinbangalore.in\/\">company registration<\/a>. But before the meeting and perused be taken on record and that the company secretary is keep the original incorporation certificate on their custody. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Certificate of Incorporation <\/strong><\/h2>\n\n\n\n<p>This company\nregistration certificate is provided by the ROC. Then, a company is incorporated\nand is also a limited company like private or public. It is the evidence of\ncompany registration. <\/p>\n\n\n\n<p><strong>Documents verified by ROC<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The\nregistrar provides this certificate after allowing the following documents\nsubmitted to him. <\/li><li>MOA<\/li><li>AOA<\/li><li>Declaration\nin e-Form No. INC-8.<\/li><li>Particulars\nof Directors in e-Form No.DIR-2 in duplicate <\/li><li>Intimation\nod situation of company registered office in e-Form No. INC-22. <\/li><\/ul>\n\n\n\n<p><strong>ROC cannot refuse registration <\/strong><\/p>\n\n\n\n<p>If these documents are in order and are in conformity with the conditions of the 2013 act and regulations and rules framed thereunder, then the ROC cannot stop registration. In case he refuses, he may be forced to register by an order of the court. The <a href=\"https:\/\/www.solubilis.in\/private-limited-company-registration-chennai.php\">company registration<\/a> date is given by the ROC and the date of company incorporation as a body, corporate by the name incorporated company and, on that date. The company is a separate legal entity having permanent run and a common seal. <\/p>\n\n\n\n<p><strong>Lifting of corporate veil not permitted <\/strong><\/p>\n\n\n\n<p>Once the\ncorporate of a veil company is registered under the act. It cannot be lifted by\nthe court just at the instance of a person is trying to show beneficial\ninterest in the company. <\/p>\n\n\n\n<p><strong>Lifting of corporate veil permitted <\/strong><\/p>\n\n\n\n<p>Court\nwould look at reality behind corporate veil when corporate character is employed\nto commit illegality or defraud others. <\/p>\n\n\n\n<p><strong>Financial Year of the company <\/strong><\/p>\n\n\n\n<p>The section 2(41) of the companies act 2013, the first \u201cFinancial Year\u201d of the company be the period from the date of <a href=\"https:\/\/www.corpstore.in\/private-limited-company-registration-coimbatore.php\">company registration<\/a>. Section and subsequent Financial Years\u201d of the company be the period from 1<sup>st<\/sup> April to 31<sup>st<\/sup> March in each year. <\/p>\n\n\n\n<p>In case a\ncompany has to have a different financial year has mentioned above, it will be\nallowed to do so only if it is a subsidiary company or a holding company registered\noutside India. It is required to follow a different financial year for combination\nof tribunal and accounts. <\/p>\n\n\n\n<p>Moreover,\na body corporate or a company which exists on April 2014, being the date of\nstart of new act. It shall within a period of two years. <\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"620\" height=\"347\" src=\"https:\/\/www.companyregistrationinbangalore.in\/blog\/wp-content\/uploads\/2016\/10\/companyregistrationinchennai.jpg\" alt=\"Company Registration \" class=\"wp-image-44\" srcset=\"https:\/\/www.companyregistrationinbangalore.in\/blog\/wp-content\/uploads\/2016\/10\/companyregistrationinchennai.jpg 620w, https:\/\/www.companyregistrationinbangalore.in\/blog\/wp-content\/uploads\/2016\/10\/companyregistrationinchennai-300x168.jpg 300w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><\/figure>\n\n\n\n<p><strong>Penalty for default <\/strong><\/p>\n\n\n\n<p>Penalty for\nnot observing with the conditions of act 2013 under section 129 for indicating\nto section 210 of the act 1956 for the managing director, finance in-charge, chief\nfinancial officer, whole-time director or any other person charged by the board\nwith the duty of indicating with the needs of this section. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Appointment of first auditors<\/strong><\/h3>\n\n\n\n<p><em>Appointment and fixation of remuneration <\/em><\/p>\n\n\n\n<p>The companies\nact 2013 of sub-section (6) of section 139, the first company auditor or\nauditors. The board of directors are decided to appoint the auditors and within\none month of the registration date of the company. The auditor or auditors so\nappointed shall hold office until the conclusion of the company\u2019s first annual\ngeneral meeting. <\/p>\n\n\n\n<p><em>Filling up of vacancy <\/em><\/p>\n\n\n\n<p>If due to\nany condition, some or otherwise than by way of registration there arises a\nvacancy in the fist auditor of the company. The board may again appoint another\ncompany auditor or auditors to hold office. <\/p>\n\n\n\n<p><em>&nbsp;Auditor\nappointed by company in general meeting <\/em><\/p>\n\n\n\n<p>If the\nboard, in either of the above cases, fails to exercise its power. The company\nin the extra ordinary general meeting to be held within 90 days. The first auditor\nis appointed and should be intimated with 7 days of his appointment.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Opening of first bank account <\/strong><\/h4>\n\n\n\n<p>A current bank account must be opened in the <a href=\"http:\/\/www.companyregistrationinbangalore.in\/\">company name<\/a>. <\/p>\n\n\n\n<p>The bank\nmust be instructed to honor all cheques, promissory notes and orders drawn by and\nall bills accepted on behalf of the company. <\/p>\n\n\n\n<p>The\ncompany secretary of the company be directed to provide to the bank certified\ntrue copy of the MOA. A list of names and specimen signatures of the same\ndirectors of the company authorized to sign on behalf of the company. <\/p>\n\n\n\n<p>This decision\nshall remain in force until notice in writing of its cancellation or withdrawal\nis given to the bank by the company secretary of the company. <\/p>\n\n\n\n<p><strong>General powers of the board <\/strong><\/p>\n\n\n\n<p>&nbsp;Since a company cannot manage on its own being\nan artificial juristic person, section 179 of the act corresponding to section\n291 of the 1956 act. <\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>Board\u2019s power of authorization Resolution passed\nby circulation <\/strong><\/h5>\n\n\n\n<p>Board\nresolutions for opening bank accounts in the company name in general may be\npassed by circulation under section 175 of the 2013 act. <\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"590\" height=\"300\" src=\"https:\/\/www.companyregistrationinbangalore.in\/blog\/wp-content\/uploads\/2016\/10\/new-company-registration-chennai.jpg\" alt=\"incorporation\" class=\"wp-image-52\" srcset=\"https:\/\/www.companyregistrationinbangalore.in\/blog\/wp-content\/uploads\/2016\/10\/new-company-registration-chennai.jpg 590w, https:\/\/www.companyregistrationinbangalore.in\/blog\/wp-content\/uploads\/2016\/10\/new-company-registration-chennai-300x153.jpg 300w\" sizes=\"auto, (max-width: 590px) 100vw, 590px\" \/><\/figure>\n\n\n\n<p><strong>Adoption of common seal <\/strong><\/p>\n\n\n\n<p>Under the companies act 2013, the possession of common seal with its name engraved on it in legible characters is no longer a statutory need of an incorporated body, having a legal personality of its own. The company has now an option in the matter of having a common seal. Company incorporation is mandatory for all small and medium companies. <\/p>\n\n\n\n<p><strong>Seal \u2013 a symbolic representation<\/strong><\/p>\n\n\n\n<p>The\ncompany seal is a symbolic representation of the company. The idea of the use\nof seal is a relic of the past when emperors and kings, great or small, used to\nput an impression mainly of their signs on documents to indicate the\nauthenticity of such documents. This type of symbol is to show authenticity was\nalso use in India in the past. <\/p>\n\n\n\n<p><strong>Approved by board of common seal <\/strong><\/p>\n\n\n\n<p>The companies act in the U.K borrowed the idea from the common law imported and practice the same in the place of <a href=\"http:\/\/www.companyregistrationinbangalore.in\/\">company <\/a>law practice for the use of the seal as a symbol to show authenticity of documents is implemented by the company for their incorporation purpose.  <\/p>\n\n\n\n<h6 class=\"wp-block-heading\"><strong>Safe custody of common seal <\/strong><\/h6>\n\n\n\n<p>Regulation\n84 of Table \u2018A\u2019 schedule I of the act 1956 vests authority for the seal in the\nboard. It also needs that the same should be affixed on any document. <\/p>\n\n\n\n<p><strong>Common Seal affixed on share certificates <\/strong><\/p>\n\n\n\n<p>Section 46 of the companies 2013 act, gives that a share certificate can be provided under the common seal. If any of the company signed by two directors or the company secretary. <\/p>\n\n\n\n<p>Every new startups wants to register their company name, We solubilis helps all startups to register their company name in Bangalore and all other major cities in India. <br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The section 7 of the 2013 act \u2013 incorporation of the company with board resolution resolved that the printed copy of the original memorandum and AoA of the company is dated the company registration. But before the meeting and perused &hellip; <\/p>\n","protected":false},"author":1,"featured_media":52,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-800","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-registration"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Company registration in Bangalore<\/title>\r\n<meta name=\"description\" content=\"The complete details of incorporation a company and to know the list of procedure of how a company is registered in India.\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.companyregistrationinbangalore.in\/blog\/incorporation-company-registration-details\/\" 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