Registration of Section 25 Company- Introduction Section 25 company is one of the popular forms of Non- Profit Organization in India. Under Indian law there are three legal forms of Non-Profit organization exists: 1. Trust 2. Societies 3. Section 25 companies Due to one uniform law across the country i.e., companies Act 1956, section 25 companies having the most reliable and strongest organization structure in comparison to Indian Trust and Indian Societies which does not have a central law. A Company Incorporated under Section 25 of the Companies Act 1956 is: 1. A voluntary association of people for promoting commerce, arts, science, religion, Charity, etc. 2. Wherein no profits or other income is distributed to its members by the way of dividend. 3. Such a company is not required to suffix the term “Limited” or “Private Limited” to its name. Procedure for registration section 25 Company 1. Application for Name approval:- An application in e-Form 1A has to be made to the ROC along with a fee of Rs.1000/- with six names in preferential order. 2. Application to Regional Director: – An application to RD has to be made for seeking license, after the availability of name is confirmed, along with the following documents:- -Draft of the Memorandum and Articles of Association. (Triplicate). -Details such as name, address, occupation of the promoters. (Triplicate). -List of companies, associations in which the promoters are directors or hold responsible position with the description of the position held. -List of the proposed members of the Board of Directors. -Declaration signed by an Advocate / Chartered Accountant / Company Secretary on non-judicial stamp paper of appropriate value. -The proposed sources of income and the expenditures thereof. -A note on the proposed activities and also the past activities, if any. A statement of the grounds for making an application under section 25. In this statement a reference to the relevant clause in the Memorandum of Association regarding the Vision and Mission of the proposed company should be made. -Declaration signed by all the promoters on non-judicial Stamp Paper of appropriate value. -In case of an existing society applying for conversion into a section 25 company, audited statement of accounts and annual report of the society for the past two years (in triplicate) should be submitted. 3. Filing the copy of above Application to the ROC: – The applicant shall file the Copy of the above application along with the other documents that had been filed before the RD. 4. Granting of License by RD: – if RD is satisfied in all respect, he shall grant license under this act with or without the conditions. 5. Other incorporation formalities: – After obtaining license under section 25 the company shall have to fulfill the other formalities of a normal company, by filing form 1, 18 & 32. Experts of Lawpath Services – India with their knowledge and experience assists you in registration of Section 25 company in an easy & efficient way and that too with the comfort of your home For free enquires, you may use our Chat Service or e-mail us your queries on [email protected] Or visit us on lawpathindia
Posted on: Fri, 19 Jul 2013 04:25:32 +0000
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